Life Sciences

BMS settles Plavix investigation

Pharma Compliance Alert, April 1, 2009

Bristol-Myers Squibb (BMS) will pay $2.1 million to resolve allegations it made false statements to the Federal Trade Commission (FTC) regarding its blood thinner Plavix, according to

The FTC accused BMS of concealing material information about a failed 2006 agreement with Apotex, a Canadian generic drug manufacturer. BMS and partner Sanofi-Aventis agreed in 2006 to pay Apotex at least $40 million to keep a generic version Plavix off the market until 2011, as part of a patent dispute. However, the deal fell through when state attorneys general refused to approve it. BMS and Sanofi-Aventis won the patent suit in 2007.

BMS pleaded guilty to two violations of the federal False Statements Act and paid a $1 million fine in May 2007 for lying to the federal government about the proposed patent deal with Apotex. In December 2008, the company reached a $1.1 million settlement with all 50 states and the District of Columbia to resolve similar allegations.

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