InvestorsHub Logo
Followers 43
Posts 2346
Boards Moderated 0
Alias Born 12/17/2001

Re: cacheflash57 post# 4113

Monday, 09/05/2016 5:10:01 PM

Monday, September 05, 2016 5:10:01 PM

Post# of 4817
http://finance.yahoo.com/news/mylans-epipen-misclassified-rebates-underpaid-133501242.html

...In a letter to the secretary of the Department of Health and Human Services dated Sep 2, 2016, Senate Finance Committee Ranking Member Ron Wyden, and House Energy and Commerce Committee Ranking Member Frank Pallone, have sought further details regarding EpiPen’s classification and rebate obligations under the Medicaid drug rebate program, following revelations that Medicaid may have been grossly overpaying for EpiPen over nearly two decades due to a misclassification by Mylan.

The letter noted that while EpiPen was considered a branded drug in the new drug application to the FDA, it has been classified as a generic drug (also known as non-innovator multiple source drug) in the Medicaid program since at least 1997. This implies that Mylan has been vastly underpaying rebates owed to Medicaid for EpiPen for a long time. Apparently, instead of the 23.1% rebate for a branded drug, Mylan has been paying the much lower generic rebate of 13%.....