Mylan Shares Higher

Mylan N.V (MYL) shares were higher 2% on Thursday after the Dutch pharmaceutical firm said it has signed an agreement with the U.S. Department of Justice (DoJ), finalizing the terms of the Medicaid drug rebate settlement for $465 million. The settlement resolves claims that the company mis-classified emergency allergy treatment EpiPen auto-injector as a generic product to avoid paying state Medicaid programs the higher rebate for branded products. The allegation was initially raised by rival Sanofi (SNY) in 2014, the Massachusetts US Attorney’s Office said.

The DoJ said that Mylan has also entered into a corporate integrity agreement with the Department of Health and Human Services that requires an annual independent review of multiple aspects of the company’s practices relating to the Medicaid drug rebate program.

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