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Dey, L.P. Reaches Settlement with State of Connecticut on Pricing Litigation
Settlement involving cash and donation of drugs resolves all State pricing claims against Dey
Napa, CA (July 19, 2005) -- Responding to today's announcement about the settlement between the State of Connecticut and Dey, L.P., John Kling, Senior Vice President of Legal Affairs at Dey, stated, "We are grateful that a resolution has been reached. The net amount of cash paid to the State of Connecticut, after legal fees and money remitted to the federal government, is $900,000. In addition, Dey will donate pharmaceuticals valued at $800,000 to certain Connecticut community health care centers and to free clinics maintained by the AmeriCares Foundation. These donated drugs will be made available to medically underserved populations of patients in the State of Connecticut."
As part of the settlement, the State of Connecticut acknowledged that the settlement did not constitute an admission of fault or liability by Dey or its affiliates.
Dey has consistently participated legally and ethically within National and various State reimbursement systems. Dey believes, as do many independent critics and government officials, that these reimbursement systems, in spite of their well-intentioned purposes, are seriously flawed. The Company is settling this litigation as a pragmatic solution to avoid the costs of continuing litigation and the vagaries inherent in it. "Having reached agreement on this relatively modest net settlement, which includes a donation of prescription drugs to medically underserved patients, we look forward to continuing to manufacture and market high-quality pharmaceuticals for the people of Connecticut and the rest of the country," said Kling.
"As a manufacturer of generic drugs, Dey takes pride in its role in offering lower-cost alternatives to branded medications," continued Kling. "Generic products provide affordable high-quality pharmaceuticals to millions of consumers. By reaching this agreement, we can apply our time, energy, and resources to providing high-quality prescription drug products."
About DEY, L.P.
DEY, L.P. is a specialty pharmaceutical company focused on the development, manufacturing and marketing of prescription drug products for the treatment of respiratory diseases and respiratory-related allergies. Since 1978, patients have benefited from DEY's commitment to innovative and affordable health care solutions.The Web sites for DEY include www.dey.com, www.accuneb.com, www.curosurfusa.com, www.duoneb.com and www.epipen.com.
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Media contacts:
Dey, L.P. Media Line, 1-800-755-5560 ext. 8363
OR
Alexis Merin
Feinstein Kean Healthcare
212-880-5324
