43 States have received millions of dollars in settlements from Bristol-Myers Squibb for the questionable marketing and pricing of certain prescription drugs for the poor.
Bristol-Meyers Squibb and its former subsidiary, Apothecon Inc., agreed in September to pay a total of $499 million, according to a spokeswoman for the company. The payments to the individual states, like Georgia’s Medicaid program went out in July 2008.
“The allegations were that these companies not only engaged in a pattern of kickbacks and false reporting to drive up both the sales and prices for its drugs, they also encouraged health care providers to prescribe a potent drug to both children and seniors for uses that had not been approved by the FDA,” Georgia Attorney General Thurbert Baker said in a prepared statement. “The drive to make certain that the bottom-line meets Wall Street expectations can never justify defrauding the taxpayers or putting our most vulnerable citizens at risk.” Read the rest of this entry »