BTG PLC Settlement of US Investigation into LC Bead (9172L)
October 06 2016 - 9:29AM
UK Regulatory
TIDMBTG
RNS Number : 9172L
BTG PLC
06 October 2016
BTG: settlement of US government investigation into LC
Bead(R)
London, UK, 6 October 2016: BTG plc (LSE: BTG), the specialist
healthcare company, announces that its Biocompatibles, Inc.
subsidiary has reached a settlement with the US government in
relation to the Department of Justice's investigation of the
marketing of LC Bead(R) . The investigation focused on the period
pre-dating BTG's acquisition of Biocompatibles in January 2011.
Biocompatibles has agreed to settle all allegations and
consequently to pay a total penalty of $36m. BTG is not required to
enter into a Corporate Integrity Agreement as part of the
settlement.
Louise Makin, BTG's CEO, commented: "It is good to resolve this
legacy issue. We understand our responsibilities to patients and
healthcare providers and, in addition to our robust ethics and
compliance programme, we strive to have a corporate culture where
we do the right thing, every time. This allows us to focus on what
we do best: delivering innovative therapies to improve people's
lives."
BTG announced in July 2014 that the investigation had
commenced.
BTG's SG&A guidance for 2016/17 did not include the effect
of this settlement.
For further information contact:
BTG
Andy Burrows, VP Corporate & Investor Relations
+44 (0)20 7575 1741; Mobile: +44 (0)7990 530 605
Stuart Hunt, Investor Relations Manager
+44 (0)20 7575 1582; Mobile: +44 (0)7815 778 536
Chris Sampson, Corporate Communications Director
+44 20 7575 1595; Mobile: +44 7773 251 178
FTI Consulting
Ben Atwell/Simon Conway
+44 (0)20 3727 1000
About BTG
BTG is a growing international specialist healthcare company
bringing to market innovative products in specialist areas of
medicine to better serve doctors and their patients. We have a
portfolio of Interventional Medicine products to advance the
treatment of liver tumours, advanced emphysema, severe blood clots
and varicose veins, and Specialty Pharmaceuticals that help
patients overexposed to certain medications or toxins. Inspired by
patient and physician needs, BTG is investing to expand its
portfolio to address some of today's most complex healthcare
challenges. To learn more about BTG, please visit:
www.btgplc.com
This information is provided by RNS
The company news service from the London Stock Exchange
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October 06, 2016 09:29 ET (13:29 GMT)
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