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This Oct. 10, 2013, file photo, shows an EpiPen epinephrine auto-injector, a Mylan product, in Hendersonville, Texas. Mylan reports financial results Tuesday, Aug. 9, 2016. (AP Photo/Mark Zaleski, File)

EpiPen maker agreed to pay $465 million over controversial pricing surge


EpiPen maker Mylan has agreed to pay $465 million to the government.

The pharmaceutical company on Friday said it has agreed to a settlement with the Department of Justice and other government agencies after it was reported that Mylan nearly quadrupled its EpiPen prices.

Mylan was accused of falsely boosting prices of the life-saving allergic reaction treatment in order to overcharge Medicaid for them.

Mylan Inc. does not admit to doing anything wrong, the company said in a statement.

What's next for Mylan?

The company has taken steps to bring down prices for consumers, but critics say it's not enough.

Mylan also revealed that the Securities and Exchange Commission has launched an investigation into the company.

Mylan says it will cooperate with the investigation request.. 

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