DOJ Says Biogen in Settlement; Agreement-in-Principle Previously Disclosed

By Josh Beckerman

The Justice Department said Biogen Inc. agreed to pay $900 million to resolve allegations that it caused the submission of false claims to Medicare and Medicaid by allegedly paying kickbacks to doctors.

In its second-quarter earnings report in July, Biogen said it recorded $900 million related to an agreement in principle to resolve the litigation. It said the agreement in principle didn't include any admission of liability and was subject to negotiation of final settlement agreements and documents.

The DOJ said Biogen will pay $843.8 million to the U.S. and $56.2 million to 15 states. Former Biogen employee Michael Bawduniak, who sued the company, will receive about 29.6% of the federal proceeds.

Write to Josh Beckerman at [e-mail]

(END) Dow Jones Newswires

09-26-22 1814ET