GO
Loading...

Enter multiple symbols separated by commas

Bristol-Myers to Pay $1 Million Criminal Fine in Plavix Case

Bristol-Myers Squibb has agreed to pay a $1 million criminal fine for lying to the federal government about a patent deal involving its Plavix blood thinner, the Justice Department said.

The fine resolves a two-count criminal charge filed by the department in federal court, which alleges that Bristol-Myers illegally concealed a patent settlement deal it had reached with Canadian drug maker Apotex, the department said.

The patent settlement at issue would have delayed generic competition to Plavix, but it collapsed.

Bristol-Myers announced on May 10 that it had agreed to plead guilty in connection with the case and said the charges carried a maximum fine of $1 million.

In a statement Wednesday, Bristol-Myers said the court documents filed by the government on Wednesday was "the next procedural step in completing our previously announced agreement to resolve the federal antitrust investigation."

Regarding allegations that Bristol-Myers had reached illegal side agreements with Apotex to block its generic version, company spokesman Tony Plohoros said only that, "Our position on this has been mischaracterized."

Contact U.S. News

  • CNBC NEWSLETTERS

    Get the best of CNBC in your inbox

    Please choose a subscription

    Please enter a valid email address
    To learn more about how we use your information,
    please read our Privacy Policy.

Don't Miss

U.S. Video

  • Hero miles for military members: Real estate magnate's plea

    Chairman of the Fisher House Foundation, Ken Fisher, discusses the Hero Miles program with CNBC's Dina Gusovsky. During Military Appreciation Month, Fisher is asking every traveler to donate 1,000 of their miles to replenish the Hero Miles programs that is in danger of running out.

  • Cramer shuts down this market's haters

    "Mad Money" host Jim Cramer on why this market can't stop, won't stop.

  • From the battlefield to the boardroom

    Your Grateful Nation is dedicated to helping Special Forces veterans enter the corporate world and Knot Standard provides complimentary suits to vets. Mad Money's Jim Cramer spoke with Rob Clapper, Your Grateful executive director; John Ballay, Knot Standard co-founder and president; Tej Gill, retired U.S. Navy Seal; and Darren McB, active duty U.S. Navy Seal.