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 Bloomberg.com.
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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