http://www.legalnewsline.com/news/214168-squibb-settles-with-states-for-403-million Pharmaceutical giant Bristol-Myers Squibb has agreed to pay state Medicaid programs a combined total of $403 million to settle lawsuits against the company and its former wholly owned subsidiary Apothecon, Inc.
The settlement resolves lawsuits filed against the New York-based drugmaker by 44 states and the District of Columbia over the company's marketing and pricing of prescription medications paid by the participating states' Medicaid programs.
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The company was accused of reporting inflated prices for various prescription drugs. The figures are used by states and federal health care programs to help determine the prices they pay for Squibb and Apothecon products.
They were also accused of paying healthcare providers and pharmacies incentives to purchase Squibb and Apothecon products as well as promoting the sale and use of the antipsychotic drug Abilify for unapproved uses.
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