Bristol-Myers Squibb Finalizes Settlement of Previously Disclosed Federal Investigation

Bristol-Myers SquibbBristol-Myers Squibb Company (NYSE: BMY) announced that it has finalized a civil settlement agreement with the United States Department of Justice ("DOJ") and the Office of the United States Attorney for the District of Massachusetts resolving the previously disclosed investigations that began several years ago involving the company's drug pricing, and sales and marketing activities. The company announced in December 2006 that an agreement in principle had been reached. In connection with the settlement, the company has entered into a five-year corporate integrity agreement with the Office of the Inspector General of the Department of Health and Human Services ("OIG") that provides for, among other obligations, the continued development and maintenance of the company's compliance programs relating to the company's U.S. pharmaceuticals business.

As previously announced, the agreement provides for a civil resolution and payment of $499 million, the full amount of which has been reserved. There are no criminal charges against the company. The agreement will not affect the company's ongoing business with any customers, including the government.

Bristol-Myers Squibb is pleased to have resolved these matters from the past and is proud of its commitment to conduct business with the highest standards of integrity in its mission to extend and enhance human life.

About Bristol-Myers Squibb
Bristol-Myers Squibb is a global pharmaceutical and related health care products company whose mission is to extend and enhance human life. For more information, visit www.bms.com.

Most Popular Now

Pfizer and BioNTech complete submission to Europea…

Pfizer Inc. (NYSE: PFE) and BioNTech SE (Nasdaq: BNTX) today announced they have completed a submission to the European Medicines Agency (EMA) for an Omicron-adapted biva...

AstraZeneca to acquire TeneoTwo and its clinical-s…

AstraZeneca announced an agreement to acquire TeneoTwo, Inc. (TeneoTwo)i, including its Phase I clinical-stage CD19/CD3 T-cell engager, TNB-486, currently under evaluatio...

Bayer to sell men's health product Nebido™ to Grün…

Bayer and Grünenthal have entered into a definitive agreement regarding the sale of Bayer's men's health product Nebido™ (testosterone undecanoate), for a purchase price ...

Demonstration of a potent, universal coronavirus m…

The SARS-CoV-2 that causes COVID-19 has killed 6.3 million people worldwide since 2019, painfully highlighting the vulnerability of humanity to novel coronaviruses. Re...

Pfizer and BioNTech advance COVID-19 vaccine strat…

Pfizer Inc. (NYSE: PFE) and BioNTech SE (Nasdaq: BNTX) today announced that the companies have initiated a randomized, active-controlled, observer-blind, Phase 2 study to...

New needle-free nasal vaccine shows promise for CO…

New research shows that a needle-free mucosal bacteriophage (phage) T4-based COVID-19 vaccine is effective against SARS-CoV-2 infection. The findings were published in mB...

SARS-CoV-2 hijacks nanotubes between neurons to in…

COVID-19 often leads to neurological symptoms, such as a loss of taste or smell, or cognitive impairments (including memory loss and concentration difficulties), both dur...

Anti-inflammatory compound shows potential in trea…

An anti-inflammatory compound may have the potential to treat systemic inflammation and brain injury in patients with severe COVID-19 and significantly reduce their chanc...

Vaccine-induced immune response to omicron wanes s…

Although COVID-19 booster vaccinations in adults elicit high levels of neutralizing antibodies against the Omicron variant of SARS-CoV-2, antibody levels decrease substan...

Scientists develop new biomimetic formulation for …

Glioblastoma multiforme (GBM) is an aggressive brain cancer with a poor prognosis and few treatment options. New and effective approaches for GBM treatment are therefore ...

Disparities in United States COVID-19 vaccine dist…

When reports showed COVID-19 vaccination rates were lower among racial/ethnic minority groups, most discussions focused on mistrust and misinformation among these populat...

GSK signs agreement to support pandemic preparedne…

GSK plc (LSE/NYSE: GSK) announced it had signed a framework contract with the European Commission's (EC) Health Emergency Preparedness and Response Authority (HERA) for t...