Sepracor says it owes Medicare $80M to $100M
Pharma Compliance Alert, February 6, 2008
During an internal audit, Sepracor found potential errors in its best price reporting between 2002 and 2007, according to a company press release.
The company uncovered the potential errors during an internal audit and informed CMS about the problem. It estimated that the total amount of any additional rebate payments and other amounts due for this six-year period will be between $80-$100 million.
Based on the initial review, Sepracor said it will likely need to restate its financial statements for the first three quarters of 2007, and fiscal years 2006, 2005, 2004, 2003, and 2002.
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