BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces an investigation on behalf of investors of Mylan N.V. (“Mylan”) or the “Company”) (NASDAQ: MYL) concerning the Company and its officers’ possible violations of federal securities laws.
Mylan, together with its subsidiaries, develops, licenses, manufactures, markets and distributes generic, branded generic and specialty pharmaceuticals worldwide.
Specifically, the investigation concerns a letter issued on October 5, 2016 from the Centers for Medicare and Medicaid Services ("CMS") asserting that Mylan had overcharged the U.S. Medicaid health program for the Company’s EpiPen shot, despite being told that Mylan needed to provide larger discounts under the law. The CMS letter stated that from 2011 to 2015, the U.S. Medicaid health program spent approximately $797 million on EpiPens, including rebates of roughly 13%, rather than the discount of 23.1% that the U.S. should have received. The letter claimed that the government had "expressly told Mylan that the [EpiPen] product is incorrectly classified."
On this news, Mylan's share price fell over 3% per share on October 6, 2016.
If you purchased Mylan securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to firstname.lastname@example.org, or visit our website at http://www.howardsmithlaw.com.
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