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- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Adrianne Appel2022-09-15T18:31:00
Drug manufacturer Akorn Operating Company agreed to pay $7.9 million in a settlement with the Department of Justice (DOJ) for continuing to sell three drugs through Medicare when they were no longer covered under the program.
Akorn, of Illinois, received approval from the Food and Drug Administration (FDA) to make three generic drugs—Diclofenac, Olopatadine, and Azelastine—available to patients through Medicare, the federal health program for seniors, according to the settlement agreement announced Wednesday. The DOJ’s case grew from a June 2021 whistleblower lawsuit filed by Albermarle LLC in U.S. District Court for the District of Massachusetts under the qui tam provisions of the False Claims Act.
Generics are less-expensive prescription equivalents to brand-name prescription drugs. Drug companies may convert their brand-name prescription drugs to over-the-counter (OTC) drugs by filing conversion applications with the FDA. Any prescription generic equivalents must also switch to OTC status when the brand-name drug converts.
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News and analysis for the well-informed compliance or audit exec. Select an option and click continue.
Annual Membership $499 Value offer
Full price one year membership with auto-renewal.
Membership $599
One-year only, no auto-renewal.
2024-11-15T19:28:00Z By Adrianne Appel
A pharmaceutical company and its chief executive have agreed to pay $47 million to settle allegations first brought by whistleblowers, that the company paid kickbacks and filed false claims, the Department of Justice said.
2022-09-06T22:20:00Z By Adrianne Appel
Bayer agreed to pay $40 million to settle allegations its sales team paid kickbacks to hospitals and doctors for prescribing its drugs and that the pharmaceuticals company downplayed risks regarding certain of its offerings.
2022-03-08T19:23:00Z By Kyle Brasseur
Pharmaceutical company Mallinckrodt agreed to pay approximately $260 million as part of a settlement announced by the Department of Justice for underpaying Medicaid rebates and violating kickback laws regarding its drug Acthar.
2024-11-21T20:19:00Z By Oscar Gonzalez
Three months after a U.S. district judge declared Google to be running a monopoly, the Department of Justice recommended the tech giant be forced to sell off its popular Chrome browser as part of an effort to resolve antitrust concerns and reshape the power of tech’s biggest companies.
2024-11-20T18:15:00Z By Aaron Nicodemus
A bank examiner and senior manager at the Federal Reserve Bank of Richmond pled guilty to insider trading after allegedly misappropriating confidential information on seven banks to make profitable trades.
2024-11-19T21:05:00Z
New York-based investment firm Drexel Hamilton will pay more than $1.1 million in penalties, with four current and former employees paying fines as well over committing hundreds of violations of rules regarding the sale of municipal bonds.
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