Tuesday, 27 April 2010
AstraZeneca announced today that the company has finalised a previously announced agreement in principle with federal and state entities in the United States to resolve civil allegations relating to the company’s past marketing and promotion of its atypical antipsychotic, SEROQUEL.
The final agreement is with the United States Attorney’s Office for the Eastern District of Pennsylvania, the United States Department of Justice, various other federal agencies, the National Association of Medicaid Fraud Control Units (NAMFCU) and the two qui tam relators.
Under the terms of the agreement, AstraZeneca denies the allegations but will pay a previously disclosed $520 million that was taken as a reserve in 2009, along with certain accrued interest. A portion of the payment will be distributed to states participating in the NAMFCU settlement.
As part of the settlement, AstraZeneca has entered into a corporate integrity agreement with the Office of Inspector General of the United States Department of Health and Human Services. The corporate integrity agreement will be in effect for five years.
NOTES TO EDITORS:
About AstraZeneca
AstraZeneca is a global, innovation-driven biopharmaceutical business with a primary focus on the discovery, development and commercialisation of prescription medicines. As a leader in gastrointestinal, cardiovascular, neuroscience, respiratory and inflammation, oncology and infectious disease medicines, AstraZeneca generated global revenues of US $32.8 billion in 2009. For more information please visit: www.astrazeneca.com
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