Markets

Gilead Sciences To Settle Alleged False Claims Act

(RTTNews) - The Justice Department announced that Gilead Sciences, Inc. (GILD) has agreed to pay $97 million to resolve claims that it violated the False Claims Act by illegally using a foundation as a conduit to pay the copays of thousands of Medicare patients taking the company's pulmonary arterial hypertension drug, Letairis.

"When pharmaceutical companies deceitfully employ the charitable donation process as an instrument to subsidize copays for their own drugs, it subverts a critical safeguard against the excessive inflation of drug costs. Manipulation of this process threatens the integrity of our federal healthcare system," said Phillip Coyne, Special Agent in Charge, Office of the Inspector General of the Department of Health and Human Service's Boston Regional Office.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

In This Story

GILD

Latest Markets Videos

RTTNews

Founded in the late 1990s by Andrew Mariathasan in New York, with the goal of covering Wall Street for a new generation of investors, RTTNews has expanded steadily over the years to become a trusted provider of content for a wide array of subjects across several platforms. RTT's Financial Newswire is relied upon by some of the world's largest financial institutions, including banks, brokerages, trading platforms and financial exchanges.

Learn More