BMS to pay more than $515 million in Apothecon investigation

NEW YORK Bristol-Myers Squibb and its subsidiary Apothecon have agreed on a civil settlement, in which the company will pay over $515 million to end a federal investigation that was looking into their pricing, sales and marketing policies.

The agreement is between BMS and the U.S. Department of Justice and the U.S attorney for the District of Massachusetts.   Also, in connection with the settlement, BMS has entered into a five-year agreement with the Health and Human Services Office of the Inspector General that provides for the continued development and maintenance of compliance programs relating to the company’s pharmaceutical business. 

The amount of the settlement is $499 million and more than $16 million in interest.