U.S. SEC sues Mylan for concealing possible loss tied to EpiPen

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(Reuters) – The U.S. Securities and Exchange Commission on Friday sued Mylan NV (O:), accusing it of failing to timely disclose a possible loss related to a Department of Justice probe into whether the company overcharged Medicaid by hundreds of millions of dollars for sales of the EpiPen Auto-Injector.

In a complaint filed with the federal court in Washington, D.C., the SEC accused Mylan of misclassifying EpiPen, which is used to treat severe allergic reactions, as a “generic” or “non-innovator” drug.

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