Mylan finalizes DoJ agreement, drawing line under EpiPen furore
Netherlands-based Mylan (Nasdaq: MYL) has reached an agreement with the US Department of Justice, finalizing the previously announced Medicaid drug rebate settlement of $465 million.
The firm’s shares took a beating last year amid controversy, including a congressional hearing, over the classification of EpiPen (epinephrine) products as non-innovator drugs, which led to lower rebate payments to Medicaid.
Since first revealing the settlement, Mylan has posted upbeat financial guidance for the year. The near-half billion dollar payment was booked in the company’s 2016 accounts.
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