Omnicare Announces Agreement with DEA
Omnicare, Inc. (NYSE: OCR) today announced a civil settlement with the United States Department of Justice relating to a previously-disclosed investigation by the Drug Enforcement Administration ("DEA") of alleged errors and deficiencies in dispensing controlled substances by certain Omnicare pharmacies.
Pursuant to this civil settlement, Omnicare will pay the government $50 million. The settlement releases Omnicare's wholly-owned and joint venture long-term care pharmacies from all civil penalty claims by the DEA related to the subject matter of the investigation. The settlement announced today has been fully reserved. The settlement contains no allegation or finding that any controlled substances were unlawfully diverted from the intended patient or that any patient was harmed.
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