bristol-meyers to pay 20m abilify settlement

Bristol-Myers Squibb has reached a nearly $20 million settlement with a coalition of U.S. states after accusations the company improperly marketed the blockbuster antipsychotic drug Abilify (aripiprazole).

The pharmaceutical giant will pay $19.5 million to 42 states and the District of Columbia to resolve claims it engaged in unfair or deceptive trade practices when marketing Abilify.

The company denied any wrongdoing. The settlement was announced December 8, 2016.  Court approval is pending. Abilify generated $5.5 billion in sales in 2014.

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