Biotech company Amgen, based in Thousand Oaks, Calif., has set aside $780 million to cover the costs of settling federal and state probes into its sales and marketing practices, according to a Bloomberg report.
The company is under civil and criminal investigations to determine whether it engaged in improper sales of drugs, including its anemia drug Aranesp. Amgen has been sued by at least 15 states claiming it encouraged providers to overbill third-party payors for prescriptions and provided fraudulent consulting agreements.
Amgen expects the $780 million to resolve 10 whistleblower suits, according to the report.
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