Mylan will pay $465 million to settle allegations that it overbilled Medicaid for its life-saving EpiPen allergy injection. The federal government says EpiPen is a branded drug, which means Mylan should have been paying a far higher rebate under the government's complex pricing rules. Mylan also lowered its 2016 guidance for earnings per share in part because of the upcoming launch of generic EpiPens. ALSOMylan CEO minimized EpiPen profits in testimony, House panel saysEpiPens and other soaring drug prices aren't just hard on people. They hurt pets, tooMylan's EpiPen profit was 60% higher than what the CEO told Congress

Source: Los Angeles Times October 07, 2016 21:22 UTC