By Peter Loftus
Of DOW JONES NEWSWIRES
The U.S. Justice Department is investigating Abbott Laboratories' (ABT) sales and marketing activities for its anti-seizure drug Depakote, the drug maker disclosed Friday.
Abbott said in a regulatory filing that the U.S. Attorney for the Western District of Virginia is seeking to determine whether Abbott's marketing activities violated civil or criminal laws including the Federal False Claims Act, the Food and Drug Cosmetic Act, and the Anti-Kickback Statute "in connection with Medicare and/or Medicaid reimbursement to third parties."
Abbott spokeswoman Adelle Infante said the Abbott Park, Ill., company is cooperating with the investigation, but declined further comment.
A spokesman for the U.S. Attorney in the Western District of Virginia couldn't immediately be reached.
Depakote is approved to treat bipolar disorder and seizures and to prevent migraines. Sales declined 70% to $354 million for the first nine months of 2009 due to generic competition.
Abbott shares fell 22 cents, or 0.4%, to $51.40 in recent trading.
-By Peter Loftus, Dow Jones Newswires; 215-656-8289; peter.loftus@dowjones.com