Bristol Myers Squibb to pay half a billion dollars to settle doctor kickback charges

The pharmaceutical company Apothecon and its parent, the Bristol-Myers Squibb Company, have agreed to a comprehensive settlement in a variety of federal and state lawsuits that accused the companies of myriad degrees of financial misconduct.

The settlement was announced by U.S. attorney Michael J.health club Sullivan, who also said that the government will not pursue criminal charges against the company. This will enable Bristol-Myers Squibb to avoid criminal sanctions or have its relationship with state and federal governments threatened.

Among the many allegations against the company, the federal government charged that Bristol-Myers Squibb paid out illegal gifts to doctors and health-care providers between 2000 in 2003 to encourage them to promote and prescribe the company's drugs health club. The company was also accused of artificial and fraudulent price inflation in order to defraud public health-care programs on prescription costs and of paying wholesalers and retailers to stock Bristol-Myers Squibb drugs.

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