CareFusion Corp. has issued the following statement regarding a previously disclosed settlement agreement: "Today, the U.S. Department of Justice and the Office of Inspector General of the Department of Health and Human Services announced a final settlement agreement with CareFusion to resolve government investigations related to the company's prior sales and marketing practices for its ChloraPrepÂ® skin preparation product and its relationships with health care professionals. CareFusion previously disclosed on April 25, 2013, it had reached an agreement in principle to pay the government approximately $41 million to resolve the allegations. Today's announcement finalizes the matter."
"We are pleased to resolve this matter and are confident we have strong practices, processes and controls in place," says Kieran T. Gallahue, chairman and CEO. "We have made significant investments during the past several years to improve our quality and compliance systems, including our sales and marketing practices, and will continue to do so as part of our commitment to adhering to the highest standards and aligning with best global practices."
In connection with this announcement, the company paid the settlement, which was previously reserved during the third quarter of fiscal 2013 (ended March 31, 2013).
Source: CareFusion Corp.