DoJ investigates Mylan on trade compliance for certain products
(Reuters) – Pharmaceuticals company Mylan NV said on Thursday that one of its subsidiary received a civil investigative demand from the U.S. Department of Justice regarding its compliance with the Trades Agreement Act (TAA) for certain products, according to a filing with the U.S. Securities and Exchange Commission.
The company also said certain employees of Mylan S.p.A. were served with search warrants issued by the public prosecutor’s office in Milan, Italy, seeking information concerning interactions with an Italian hospital and sales of certain reimbursable drugs.
The company was not immediately available for additional details outside business hours.
Shares of the drugmaker were down 1.2 percent at $37.44 after the bell.
In 2016, Mylan’s pricing of the EpiPen, an epinephrine autoinjector, became controversial. An investigation was opened into whether Mylan had misclassified the EpiPen under the Medicaid Drug Rebate Program.
In October 2016, Mylan settled these investigations with the U.S. Department of Justice, agreeing to pay $465 million.
Reporting by Mrinalini Krothapalli in Bengaluru