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Pharmacia and Upjohn Company Inc., a unit of Pfizer, pleaded guilty to one count of offering a kickback to a pharmacy benefit manager and was sentenced to pay a criminal fine of $19.68 million, federal prosecutors said on Wednesday.
As a result of its conviction, Pharmacia will be excluded permanently from participation in all federal health care programs, prosecutors said.
Prosecutors alleged Pharmacia offered the pharmacy benefit manager inflated payments in the amount of $12.3 million.
They also charged that Pharmacia's financial analyses showed the company expected to earn that much or more from the improved formulary positioning and benefits their drugs were expected to receive in return.
Insider hopes Dr Peter Rost was there to witness the event.
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