On October 5, 2016, the Centers for Medicare and Medicaid Services ("CMS") published a report stating that for years Mylan had overcharged the U.S. Medicaid health program for its EpiPen shot, despite being to provide greater discounts under the law. The CMS letter stated that from 2011 to 2015, the U.S. Medicaid health program spent close to $797 million on EpiPens, including rebates of about 13%, instead of the 23.1% discount that the U.S. should have received. The letter also said that the government has "expressly told Mylan that the [EpiPen] product is incorrectly classified." Following this news, Mylan stock dropped $1.19 per share, or 3.13%, to close at $36.84 on October 6, 2016.
If you are aware of any facts relating to this investigation, or if you purchased shares of Mylan, you can assist this investigation by visiting the firm's site: http://www.bgandg.com/myl or by contacting Peretz Bronstein or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484 or via email firstname.lastname@example.org. Those who inquire by e-mail are encouraged to include their mailing address, email and telephone number.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Bronstein, Gewirtz & Grossman, LLC
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