Pharmaceutical company Mylan N.V. (Mylan or the company) recently agreed to pay $30 million to settle claims brought by the U.S. Securities and Exchange Commission (SEC) for alleged material misstatements and omissions in the company’s periodic reports.
The SEC complaint alleges that Mylan failed to timely disclose or accrue for liability arising out of an investigation by the Department of Justice (DOJ) into Mylan’s practice of characterizing EpiPen as a generic drug for the purposes of the Medicaid Drug Rebate Program (MDRP). The complaint also alleges that Mylan’s periodic reports contained misleading risk factor disclosures on a related topic.
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