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Mylan pays $465 million to settle EpiPen Medicaid rebate dispute

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Mylan NV on Friday said it will pay $465 million to settle the question of whether misclassification of its EpiPen emergency allergy treatment resulted in underpayment of rebates to the U.S. Medicaid healthcare program.

The company has come under scrutiny for raising prices on the lifesaving EpiPen sixfold in less than a decade, making the devices unaffordable for a growing number of families.

Mylan, which will make the payment to the Department of Justice and other government agencies, said the settlement does not include any finding of wrongdoing.

Figures released by Centers for Medicare and Medicaid Services on Wednesday showed that U.S. government health plans spent more than $1 billion on Mylan’s EpiPen between 2011 and 2015.

U.S. lawmakers have contended that Mylan underpaid rebates to state Medicaid programs by misclassifying EpiPen as a generic instead of a branded drug. The Medicaid rebate for a generic is 13 percent compared with a minimum 23.1 percent for a branded drug.

Mylan said will record a pre-tax charge of about $465 million in the quarter ended Sept. 30.

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The company, citing changes to the EpiPen consumer discount program and upcoming launch of a generic version of the treatment, said it now expects full-year 2016 adjusted earnings per share of $4.70 to $4.90, down from a previous range of $4.85 to $5.15 per share.

(Reporting by Narottam Medhora in Bengaluru and Deena Beasley in Los Angeles; Editing by Don Sebastian and Cynthia Osterman)

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Don Trump Jr shamed for sucking up to his dad on Twitter: ‘Ivanka is still his favorite’

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President Donald Trump retweeted about a half dozen posts early Wednesday from his wife and children, but not one particularly approval-seeking tweet from his namesake son.

The president's namesake son hyped his father's promotion of the "American Dream" late Tuesday, but Trump didn't include that one among several others posted by Ivanka Trump, Eric Trump and Melania Trump, as well as another touting son-in-law Jared Kushner's Middle East peace plan.

"For the last 50 years our biggest net export has been The American Dream, but because of @realDonaldTrump we’ve brought that American Dream home, where it belongs," tweeted Donald Trump Jr. "He’s doing this for you, your children, and for your grandchildren. Let’s Keep America Great! #2020"

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Child detention centers: Rachel Maddow trades tears for tenacity

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Well, a lot has happened since MSNBC host Rachel Maddow broke down on the air about U.S. child detention camps. She got mad - and started getting even.

Maddow said on her June 24 show, "I mean, it`s impossible not to see. I mean, obviously, this is a national interest. This is something we will all have to answer for one day to our makers, right?"

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Trump attacks his own Fed chairman in unhinged Fox interview: ‘Nobody ever heard of him before — I made him!’

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President Donald Trump bitterly attacked Federal Reserve Chairman Jerome Powell for refusing to cut interest rates during an interview with Fox Business's Maria Bartiromo.

When asked about the state of the economy, Trump claimed that the economy is doing terrific but he said that Powell should nonetheless aggressively pump money into the economy via rate cuts.

"We should have [European Central Bank President Mario] Draghi instead of our Fed person!" the president said. "We have a man who doesn't do anything for us!"

Bartiromo then noted that Powell has made a point of preserving the Federal Reserve's political independence by refusing to obey the president's orders to lower rates, but Trump replied that Powell should just do what he's told.

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