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Bristol-Myers Pays $499 Million To Resolve Marketing Probe

  • USA Today, Friday, December 22, 2006 12:15 PM
Bristol-Myers Squibb agreed yesterday to pay $499 million to settle federal investigations into its pricing, sales and marketing practices for the schizophrenia and bipolar disorder drug Abilify.

Investigators charged that the company promoted the drug for conditions it was not approved to treat. The settlement also covers some cases in which Bristol allegedly inflated drug prices, so government programs for the poor and elderly paid more.

The tentative agreement is one of the biggest in recent years for drug makers regarding drug marketing and pricing. It is subject to approval by the U.S. Department of Justice and was struck with Justice and the U.S. Attorney for the District of Massachusetts. Under the terms, no criminal charges will be filed against Bristol.

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