NEW YORK, Sept. 28 /PRNewswire-FirstCall/ -- Bristol-Myers Squibb
Company (NYSE: BMY) announced today 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.
Bristol-Myers Squibb is a global pharmaceutical and related health care
products company whose mission is to extend and enhance human life.
SOURCE Bristol-Myers Squibb Company
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Related links:
http://www.bms.com
CONTACT:
Media, Jeff Macdonald, Communications,
+1-212-546-4824, jeffrey.macdonald@bms.com, or Laura Hortas,
Communications, +1-609-252-4587, laura.hortas@bms.com, or
Investors, John Elicker, Investor Relations, +1-212-546-3775, all
of Bristol-Myers Squibb Company
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