Drug manufacturer Novartis told a judge last week that the government’s May 17 public statement that the company’s actions have resulted in overcharges and are in direct violation of the 340B statute has injured Novartis’ reputation among its customers and investors. The company said the demand letter is hindering its “ability to recruit talent and build relationships with the stakeholders necessary to develop pharmaceuticals that patients need.”
Government termination of Novartis’ participation in the 340B and Medicaid drug rebate programs, on top of imposition of civil monetary penalties (CMPs), would “cause the company significant financial harm, and exact further damage to Novartis’s reputation,” the company argued. “It also would inhibit access to Novartis’s drugs by vulnerable Medicaid and Medicare beneficiaries having therapeutic need for them.”
Drug manufacturer Novartis told a judge last week that the government’s May 17 public statement that the company’s actions have resulted in overcharges and are in direct violation of the 340B statute has injured Novartis’ reputation among its customers and investors. The company said the demand letter is hindering its “ability to recruit talent and build relationships with the stakeholders necessary to develop pharmaceuticals that patients need.”
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