Bristol-Myers Squibb to pay $499 million settlement

Bristol-Myers Squibb has reached a $499 million settlement to dismiss federal investigations into questionable drug pricing and marketing tactics.

According to the Pittsburgh Tribune-Review:

The company entered an agreement in principle with the Justice Department and the U.S. Attorney in Massachusetts to pay the settlement and avoid civil and criminal charges. Bristol-Myers will also enter a corporate integrity agreement with the Office of Inspector General of the Department of Health and Human Services. The agreement must still get final approval from the Justice Department. Attorneys general of several states and a number of counties in New York charged that Bristol-Myers inflated the average wholesale prices of their drugs, the same prices that are used by government programs and insurers for reimbursement purposes.

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