Bristol-Myers Squibb 'to pay $9m to Medicaid programme'
16 Jul 2008
Bristol-Myers Squibb has agreed to pay over $9 million (£4.5 million) to the Massachusetts medicaid programme, according to a report.
It has reached a settlement following allegations of improper sales, marketing and price reporting practices, the PharmaLive website says.
The agreement has been reached after the conclusion of a seven-year investigation arising from nine separate whistleblower lawsuits filed around the US, it adds.
Attorney general Martha Coakley stated her office will continue in its efforts to eliminate fraudulent pricing schemes which drain taxpayers' money from the US health system.
She asserted: "The Massachusetts medicaid programme expects healthcare providers, both large and small, to operate with honesty and integrity."
Last week, Bristol-Myers Squibb gave its endorsement to a revised voluntary code which governs the activity of pharmaceutical companies' representatives in their dealings with healthcare professionals.
The updated code from the Pharmaceutical Research and Manufacturers of America will come into force in January next year.
