|Bid||136.44 x 100|
|Ask||136.75 x 400|
|Day's Range||135.86 - 138.90|
|52 Week Range||96.93 - 138.93|
|PE Ratio (TTM)||51.24|
|Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
LOS ANGELES (AP) — A New Jersey pharmaceutical company has agreed to pay $280 million to settle a federal lawsuit alleging it committed fraud promoting two cancer drugs for unapproved purposes.
Celgene Corp. to pay $280 million to settle lawsuit alleging it promoted cancer drugs for unapproved uses.
The U.S. Justice Department said on Tuesday that Celgene Corp had agreed to pay $280 million to settle a lawsuit that accused the company of promoting its cancer drugs Revlimid and Thalomid for off-label uses. In a statement, Celgene said it has agreed to resolve a "whistleblower" lawsuit that alleged it had violated the federal False Claims Act by submitting false claims to Medicare. The lawsuit alleged that Celgene violated the laws of 28 states and the District of Columbia by submitting fraudulent claims to state healthcare programs, including California's Medi-Cal program.