Amgen to Pay $780 Million to Resolve Kickback Allegations

Amgen Inc. said it set aside $780 million to resolve civil and criminal investigations into whether the world’s largest biotechnology company engaged in improper sales of drugs, including its Aranesp anemia medicine. Amgen said in a release yesterday it took a $780 million charge to cover the costs of settling federal and state probes of its sales and marketing practices. Amgen said it expects the accord to resolve 10 whistle-blower lawsuits, including one claiming fraudulent overbilling tied to Aranesp sales.

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