BOSTON – The United States has filed a complaint under the False Claims Act (FCA) against Regeneron Pharmaceuticals, Inc., a New York-based pharmaceutical company.
The complaint alleges that Regeneron fraudulently manipulated Medicare reimbursement for its drug, Eylea, by knowingly submitting false average sales price (ASP) reports to Medicare.
Medicare uses ASP to set its reimbursement rates for Eylea and other drugs. The complaint alleges Regeneron inflated Eylea’s ASP by paying credit card processing fees for the benefit of physician-customers purchasing Eylea, without properly reporting these payments as price concessions to ASP.
Regeneron manufactures and sells Eylea, an anti-vascular endothelial growth factor (anti-VEGF) inhibitor approved by the Food and Drug Administration to treat, among other conditions, neovascular (Wet) Age-Related Macular Degeneration (Wet AMD), a prevalent, usually age-related condition that impairs vision.
Eylea is a leading Medicare expense, with payments of more than $25 billion between 2012 and 2023.
The United States alleges that Regeneron knew it was required to report all price concessions for Eylea, yet knowingly failed to include price concessions in the form of credit card processing fees that Regeneron paid to specialty drug distributors to benefit its customers.
The United States alleges that Regeneron paid these credit card fees for Eylea purchases so that distributors would accept credit cards for physicians’ Eylea purchases while still charging those customers the lower cash price.
Regeneron Pharmaceuticals, Inc., is accused of filing false claims for Eylea and causing hundreds of millions of dollars in inflated reimbursements by Medicare. The exact amount of the loss is not specified in the complaint.
The United States Attorney for the District of Massachusetts, Joshua S. Levy, stated, “The government alleges that Regeneron manipulated Medicare’s drug pricing process, by knowingly failing to report its payment of credit card processing fees as price concessions to its customers.”
There has been no court date set for Regeneron Pharmaceuticals, Inc., and the outcome of the case is currently pending.
Regeneron, a leading pharmaceutical company, is facing allegations of Medicare reimbursement fraud. The company has not commented on the allegations.
Regeneron Pharmaceuticals, Inc., is accused of Medicare reimbursement fraud, a crime punishable under the False Claims Act (FCA).
The defendant, Regeneron Pharmaceuticals, Inc., is a New York-based pharmaceutical company.
Regeneron Pharmaceuticals, Inc. is accused of submitting false average sales price (ASP) reports to Medicare, causing hundreds of millions of dollars in inflated reimbursements by Medicare.
Regeneron Pharmaceuticals, Inc. is accused of knowingly failing to report its payment of credit card processing fees as price concessions to its customers, causing the submission of false claims for Eylea and hundreds of millions of dollars in inflated reimbursements by Medicare.
Regeneron Pharmaceuticals, Inc. is accused of Medicare reimbursement fraud, with the complaint filed under the False Claims Act (FCA).
Regeneron Pharmaceuticals, Inc. is accused of submitting false claims for Eylea and causing hundreds of millions of dollars in inflated reimbursements by Medicare.
Regeneron Pharmaceuticals, Inc. is accused of Medicare reimbursement fraud, with the complaint filed under the False Claims Act (FCA).
Regeneron Pharmaceuticals, Inc. is accused of submitting false average sales price (ASP) reports to Medicare, causing hundreds of millions of dollars in inflated reimbursements by Medicare.
Regeneron Pharmaceuticals, Inc. is accused of Medicare reimbursement fraud, a crime punishable under the False Claims Act (FCA).
Regeneron Pharmaceuticals, Inc. is accused of knowingly failing to report its payment of credit card processing fees as price concessions to its customers.
There has been no court date set for Regeneron Pharmaceuticals, Inc., and the outcome of the case is currently pending.
Regeneron Pharmaceuticals, Inc. is accused of Medicare reimbursement fraud, with the complaint filed under the False Claims Act (FCA).
Regeneron Pharmaceuticals, Inc. is accused of submitting false claims for Eylea and causing hundreds of millions of dollars in inflated reimbursements by Medicare.
Regeneron Pharmaceuticals, Inc. is a New York-based pharmaceutical company.
The defendant, Regeneron Pharmaceuticals, Inc., is a New York-based pharmaceutical company.
Regeneron Pharmaceuticals, Inc. is accused of Medicare reimbursement fraud, with the complaint filed under the False Claims Act (FCA).
Regeneron Pharmaceuticals, Inc. is accused of causing hundreds of millions of dollars in inflated reimbursements by Medicare.
Regeneron Pharmaceuticals, Inc. is accused of Medicare reimbursement fraud, a crime punishable under the False Claims Act (FCA).
The exact amount of the loss is not specified in the complaint.
The United States Attorney for the District of Massachusetts, Joshua S. Levy, stated, “The government alleges that Regeneron manipulated Medicare’s drug pricing process, by knowingly failing to report its payment of credit card processing fees as price concessions to its customers.”
Principal Deputy Attorney General Brian M. Boynton stated, “We will not permit pharmaceutical companies to flout price reporting requirements to maintain high drug prices.”
Special Agent in Charge of the U.S. Department of Health and Human Services, Office of Inspector General, Roberto Coviello stated, “Reimbursement rate manipulation, as alleged in this complaint, threatens the integrity of the taxpayer-funded Medicare program, and we will thoroughly pursue such allegations.”
Special Agent in Charge of the Federal Bureau of Investigation, Boston Division, Jodi Cohen stated, “Today, Regeneron is accused of siphoning hundreds of millions of dollars of those funds to pad their profits on the backs of taxpayers.”
Key Facts
- State: Massachusetts
- Category: Fraud & Financial Crimes
- Source: DOJ Press Release â†â€â€
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