BTG Announces Subsidiary Settlement
BTG will pay $36m to the US Department of Justice to resolve claims its subsidiary, Biocompatibles, violated marketing regulations in promoting its LC Bead embolization system between 2003 and 2011.
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The company pleaded guilty to a misdemeanor misbranding charge and agreed to pay $11m in criminal penalties and another $25m to resolve civil False Claims Act allegations. Biocompatibles reportedly marketed its LC Bead product as a drug-delivery product, even though it was cleared only for embolization.
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