Bristol-Myers Squibb now has the dubious distinction of the third-largest court settlement between a drug maker and the U.S. Attorney's office in Massachusetts. The drug maker agreed to pay $515 million to settle kickback claims.
It's not the money that's most worrisome, though, but the behind-the-curtain machinations of a special Bristol-Myers sales force charged with marketing the antipsychotic Abilify for off-label uses--included one use that the FDA had warned against. The company also defrauded Medicaid with a pricing scheme on the antidepressant Serzone, and inflated prices of various cancer drugs and generics.
- see the U.S. Attorney's statement [1] on the settlement
- read Bristol-Myers' statement [2]
- read the report [3] from the Boston Globe
Related Articles:
Better times ahead for BMS?
Probation draws to a close for Bristol-Myers [4]
FBI agents raid BMS office in deal probe [5]
Links:
[1] http://www.fiercebiotech.com/press-releases/bristol-myers-squibb-pay-more-515-million-resolve-illegal-drug-marketing-and-pricing-
[2] http://www.fiercebiotech.com/press-releases/press-release-bristol-myers-squibb-finalizes-settlement-previously-disclosed-federal-
[3] http://www.boston.com/business/globe/articles/2007/09/29/drug_firm_subsidiary_settle_suits_for_515m/
[4] http://www.fiercebiotech.com/story/probation-draws-to-a-close-for-bristol-myers/2007-06-15
[5] http://www.fiercebiotech.com/story/fbi-agents-raid-bms-office-in-deal-probe/2006-07-28