Mylan appears to be in a boat load of trouble.
It all began when the company rushed to announce it had made a hand-shake “agreement in principle” to settle a False Claims Act case about EpiPen pricing and rebates.
But no such agreement was ever acknowledged by the U.S. Department of Justice, or HHS. In quick order, Senator Grassley (R-IA), and other colleagues on Capitol Hill, asked how the $465 million number announced by Mylan had been derived.
DoJ stayed silent, as the case was still under seal, and the $465 million number had apparently not yet been vetted up high.
Mylan refused to participate in a Congressional hearing looking into the settlement as more and more Members of Congress expressed shock and outrage over the company’s naked price gouging.
It now appears that Mylan’s rip-off of Medicaid may total as much as $5 billion, making that $465 million settlement look like a bargain-basement deal.
And that’s not all of Mylan’s problems. According to the Internal Revenue Service, Mylan may also be on the hook for $100 million in back taxes.