PITTSBURGH, Sept. 20 /PRNewswire/ -- In response to media coverage
regarding its recent settlement with the U.S. Department of Justice, the
Office of the Inspector General of the U.S. Department of Health and Human
Services (OIG), and a team of state negotiators representing the National
Association of Medicaid Fraud Control Units, Bayer Corporation issued the
following points of clarification:
-- Bayer's practices regarding the Average Wholesale Price (AWP) were
consistent with industry standards, Bayer priced its products
competitively, and Bayer believes it complied with the law in
reporting its AWP. At no time did Bayer lie about its AWP pricing.
-- Bayer is the first pharmaceutical company to come forward and is the
only one of some two dozen pharmaceutical manufacturers under
investigation to work cooperatively with the DOJ and the states to
make improvements to the Medicaid reimbursement system.
-- Under the compliance agreement, Bayer will provide the Medicaid
programs with information about the average selling prices of its
drugs in order to assist them in setting fair, reasonable
reimbursement rates for Bayer's products.
-- Bayer worked closely with the government and contributed to the
establishment of fair and reasonable reimbursement rates that will
help the Medicaid system make drugs more accessible to the poor and
underinsured. Bayer believes its agreement will advance this
important objective.
-- Bayer's settlement resolves not only the investigation by the federal
and state government agencies but also removes Bayer from the related
investigations and state lawsuits filed against other pharmaceutical
and biological products manufacturers.
-- In resolving this investigation, Bayer now looks forward to doing what
it does best: providing high quality pharmaceutical products to its
many valuable customers and to the people whose health depends on
them.
SOURCE Bayer Corporation
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http://www.bayerus.com
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http://www.prnewswire.com/comp/092575.html or fax,
800-758-5804, ext. 092575
CONTACT:
David B. Reeder of Bayer, 412-777-5666
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