U.S. Department of Justice says Biogen agrees to $900M drug kickback settlement
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The U.S. Department of Justice (DOJ) on Monday said pharmaceutical major Biogen (NASDAQ:BIIB) had agreed to pay $900M to resolve allegations that it paid kickbacks to physicians to prescribe its drugs, which caused the submission of false Medicare and Medicaid claims.

The allegations stemmed from a lawsuit filed by a former BIIB sales rep, Michael Bawduniak, who claimed that the company offered and paid renumeration to doctors and health care professionals to increase prescriptions of multiple sclerosis drugs Avonex, Tysabri and Tecfidera.
Biogen (BIIB) in July had announced the $900M settlement and had recognized the amount as a charge for its Q2 financials.
Under the terms of the settlement, BIIB will pay $843.8M to the U.S. and $56.2M to 15 states, the DOJ said in a statement.
Bawduniak will get about 29.6% of the federal proceeds from the settlement, the DOJ added.
The justice department also clarified that the claims resolved by the settlement were "allegations only" and that there had "been no determination of liability."
Biogen (BIIB) stock earlier closed -1% at $195.75.