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Mylan Agrees to $30M EpiPen Settlement

The case related to whether or not the company overcharged Medicaid.

Congress Epi Pen Ap 582487c91ddbe
AP Photo/Rich Pedroncelli

PITTSBURGH (AP) — Mylan has agreed to pay $30 million in a settlement tied to its failure to tell investors about a Justice Department investigation into whether the company overcharged Medicaid for the EpiPen. 

The Securities and Exchange Commission said Friday that Mylan NV classified the EpiPen as a "generic" drug under the Medicaid drug rebate program. This led to the pharmaceutical company paying much lower rebates to the government than if the EpiPen had been classified as a "branded" drug.

Mylan had disclosed in July that it had reached an agreement-in-principle with the SEC on the matter. The company said in a statement Friday that it neither admits nor denies the SEC's allegations.

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