INVESTOR ALERT: Investigation of Mylan N.V. Announced by Law Offices of Howard G. Smith
October 11 2016 - 6:07PM
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 howardsmith@howardsmithlaw.com, or visit our website at
http://www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in
some jurisdictions under the applicable law and ethical rules.
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version on businesswire.com: http://www.businesswire.com/news/home/20161011006761/en/
Law Offices of Howard G. SmithHoward G. Smith,
Esquire215-638-4847888-638-4847howardsmith@howardsmithlaw.comwww.howardsmithlaw.com
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