US House approves bill prompted by Mylan EpiPen scandal
The US House of Representatives has approved a bill that would prevent drugmakers from overcharging Medicaid in the way Mylan (Nasdaq: MYL) was famously accused of doing.
The bipartisan IMPROVE Act, sponsored by lawmakers Ron Wyden and Chuck Grassley, would impose punitive measures for those who misclassified branded products as generics.
In 2017, Mylan was alleged to have effectively overcharged the federal insurance scheme by as much as $1.27 billion for its EpiPen (epinephrine) auto-injectors.
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