) has agreed to pay a $30 million fine to settle U.S. Securities and Exchange Commission charges it hid from investors the impact of a federal probe into the drugmaker’s overbilling the government for its EpiPen allergy treatment.
The SEC on Friday said Mylan kept investors in the dark when it failed to disclose or set aside money for the two-year probe by the U.S. Department of Justice, prior to announcing a $465 million settlement in October 2016. Authorities said that enabled the company, which has offices in Canonsburg, Pennsylvania, and near London, England, to avoid paying higher rebates to state Medicaid programs.
The drugmaker had raised EpiPen prices by about 400% from 2010 to 2016, yet paid a fixed rebate to Medicaid during that time. Mylan’s case provided fuel to the still-continuing nationwide debate over soaring drug prices.
... That fine is comicly low for what they make in overcharging
Thomas Cook cooked Capitally globally from $7bill to -1bill 27000 opportunity for new works Mahesh Bhatt Kirticorp Pranam Love Life Labs Mentor TeleTechBusipreneur
That will be so comforting to the many people who risked their lives by not refilling their EpiPens or keeping them past their expiration dates because the price was artificially raised to extortionate rates! NotEnough HealthCareForAll ReformTheSystem
That’s nothing
Send execs to jail.
They made a couple billion by killing people and then were fined 30 million. Compare with my SEC policies if I were elected which would have the CEO and board publicly flogged
that's nothing compared to what they made by their unpressidented price hikes. barely a slap on the wrist.
They made a couple billion by killing people and then were fined 30 million. Compare with my SEC of were elected which would have the CEO and board publicly flogged
WTF good are fines to patients who struggled to pay for lifesaving medication or went without. The same IS happening with insulin for T1 diabetics
Well at least someone will benefit, if not the customers who were actually price gouged... Seriously, tho'... I hope there is a class-action lawsuit in the works on behalf of the customers.
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