Bristol-Myers Squibb Settles $19.5M Lawsuit

Dec 08, 2016

CNBC

Bristol-Myers Squibb was ordered to pay $19.5 million to resolve multi-state allegations that it improperly promoted a schizophrenia treatment for uses not approved by the U.S. government, said New York Attorney General Eric Schneiderman.

According to a CNBC story, the company's agreement with 42 other states is based on charges that Bristol-Myers Squibb promoted its Abilify anti-psychotic drug for use in children and elderly patients with dementia and Alzheimer's disease.

At the time the marketing of the drug occurred, such uses were not approved by the Food and Drug Administration.

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