Mylan to pay $465 million over EpiPen Medicaid rebate dispute

[Eugene]

Source: Reuters

BUSINESS NEWS | Fri Oct 7, 2016 | 7:30pm EDT

Mylan to pay $465 million over EpiPen Medicaid rebate dispute

By Deena Beasley

Mylan NV (MYL.O) on Friday said it will pay $465 million to settle questions of whether it underpaid U.S. government healthcare programs by misclassifying its EpiPen emergency allergy treatment, which has come under intense scrutiny after a series of drastic price increases.

Mylan has been lambasted by consumers and lawmakers for raising prices on the lifesaving EpiPen sixfold to over $600 for a package of two in less than a decade, making the devices unaffordable for a growing number of families.

Lawmakers were trying to determine whether Mylan made more money on EpiPen than warranted from state Medicaid programs by having it classified as a generic product, resulting in much smaller rebates to the government health plans.

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Lawmakers have contended that Mylan underpaid Medicaid rebates by misclassifying EpiPen as a generic instead of a branded drug. The Medicaid rebate for a generic is 13 percent compared with a minimum 23.1 percent for a branded drug.

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Read more: http://www.reuters.com/article/us-mylan-nl-epipen-idUSKCN1272DZ

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1. Mylan to pay $465 million over EpiPen Medicaid rebate dispute

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