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Sandoz to Pay Millions to CMS
The fine is a result of the company falsifying sales price data to Medicare. In addition to the fine, Sandoz has to provide evidence that it has established a government pricing compliance program.
In what the federal government says is the largest such settlement ever reached, Sandoz has agreed to pay $12.64 million to resolve allegations that it misrepresented pricing data on medicines that were provided to the Centers for Medicare & Medicaid Services.
Sandoz, which is owned by Novartis and markets hundreds of generic drugs in the U.S., allegedly misrepresented the average sales price data to Medicare between January 2010 and March 2012, according to a statement from the Office of the Inspector General of the U.S. Department of Health & Human Services.
Complete post in The Wall Street Journal:
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