HERTFORDSHIRE, England, and PITTSBURGH, /PRNewswire/ -- Mylan N.V. (NASDAQ: MYL) today announced that it has finalized a previously disclosed civil settlement with the U.S. Securities and Exchange Commission ("SEC"). On July 29, 2019, the Company disclosed in its public filings that it had reached an agreement-in-principle with the SEC's Division of Enforcement to settle the matter. The matter primarily concerns historical disclosures and accrual related to the U.S. Department of Justice's civil investigation concerning the classification of EpiPen® and EpiPen Jr® Auto-Injectors for purposes of the Medicaid Drug Rebate Program. Today's settlement fully resolves the SEC's investigation.
Pursuant to the agreement with the SEC, Mylan neither admits nor denies the SEC's allegations, has consented to the entry of a final judgment, and will pay $30 million, which previously has been fully reserved.
Mylan believes at this time, taking all other matters into consideration, that this settlement is the right course of action for the Company. The Company continues to be committed to the highest levels of integrity with respect to all aspects of its business operations, including its public filing disclosures and communications with investors.
SOURCE Mylan N.V.
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Mylan is a global pharmaceutical company committed to setting new standards in healthcare. Working together around the world to provide 7 billion people access to high quality medicine, we innovate to satisfy unmet needs; make reliability and service excellence a habit; do what's right, not what's easy; and impact the future through passionate global leadership. We offer a growing portfolio of more than 7,500 marketed products around the world, including antiretroviral therapies on which approximately 40% of people being treated for HIV/AIDS globally depend. We market our products in more than 165 countries and territories. We are one of the world's largest producers of active pharmaceutical ingredients. Every member of our approximately 35,000-strong workforce is dedicated to creating better health for a better world, one person at a time. Learn more at Mylan.com. We routinely post information that may be important to investors on our website at investor.mylan.com.