Pharmaceutical manufacturer, Bristol-Myers Squib Co. has announced it will pay $403 million in settlements of lawsuits brought against it by 44 states regarding prescription drug pricing fraud through state-run Medicaid programs.
BMS was accused of reporting inflated prices for various prescription drugs, as well as paying healthcare providers and pharmacies incentives to purchase Squibb and Apothecon products. BMS was also alleged to have promoted the unapproved use of its antipsychotic drug Abilify.
