Updated to include BTG’s guilty plea entered Nov 7.
BTG (LON:BTG) said last month that it agreed to pay the U.S. Justice Dept. $36 million (£28.4 million) to settle a probe into the marketing of the LC Bead embolization microspheres made by its Biocompatibles subsidiary.
The company plead guilty on Monday, November 7, to charges of improperly marketing its embolic LC Bead device.
Biocompatibles admitted to a misdemeanor charge of introducing a misbranded medical device into interstate commerce, according to court documents.
The Justice Dept. launched the probe in July 2014, saying it would investigate the marketing practices for LC Bead from 2003 to 2011, covering a period before the January 2011 buyout of Biocompatibles by the British drug-delivery giant. The settlement does not include a corporate integrity agreement, BTG said.
Material from Reuters was used in this report.
Get the full story at our sister site, Drug Delivery Business News.
The post UPDATE: BTG’s U.S. Biocompatibles business to pay $36m settlement, plead guilty to misbranding appeared first on MassDevice.
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