Bristol-Myers Squibb Giving SD $700k For Drug Fraud (AP)

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By Lisa May

Story Created: Jul 19, 2008 at 2:33 PM CDT

Story Updated: Jul 19, 2008 at 2:33 PM CDT

PIERRE, S.D. (AP) - South Dakota will receive more than $700,000 from Bristol-Myers Squibb in a settlement over illegal pricing and
marketing of drugs distributed to Medicaid.

The alleged misconduct includes inflated pricing, misreporting sales prices and promoting a drug the FDA had not approved. The settlement reimburses South Dakota for excessive amounts paid by Medicaid.

The company settled with 43 states, the District of Columbia and the federal government for $389 million, plus interest.

Copyright 2008 by The Associated Press.  All Rights Reserved.

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