Glancy Prongay & Murray LLP Commences Investigation on Behalf of Mylan N.V. Investors
15 October 2016 - 1:30AM
Business Wire
Glancy Prongay & Murray LLP (“GPM”) announces an
investigation on behalf of Mylan N.V. (“Mylan” or the “Company”)
(NASDAQ: MYL) investors 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 Lesley Portnoy, Esquire,
of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California
90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to
shareholders@glancylaw.com, or visit our website at
http://www.glancylaw.com. If you inquire by email please include
your mailing address, telephone number and number of shares
purchased.
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/20161014005128/en/
Glancy Prongay & Murray LLP, Los Angeles/New YorkLesley
Portnoy, 310-201-9150 or
888-773-9224shareholders@glancylaw.comwww.glancylaw.com
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