Omnicare Announces Agreement with DEA
(Thomson Reuters ONE) -
Settlement amount fully reserved and previously disclosed
CINCINNATI, May 11, 2012 - 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.
While DEA regulations specifically address retail and hospital pharmacy
operations, long-term pharmacies have historically operated in a less defined
middle ground, dispensing controlled substances on instructions from long-term
care facility staff after the staff's consultation with the ordering authorized
prescriber. This civil settlement makes it clear that DEA interprets its
regulations to require the ordering authorized prescriber to either sign an
order containing all of the elements of a valid prescription prior to
dispensing, or in limited emergency circumstances for Schedule II controlled
substances to speak directly with the pharmacy prior to
dispensing. Further, while DEA has approved Omnicare's use of a reminder letter
containing a blank prescription template for emergency and expiring
orders, long-term care pharmacies are prohibited from providing the authorized
prescriber a template prescription that has been filled out in whole or in part
by the pharmacy.
"Omnicare is committed to compliance with the laws and regulations enforced by
the DEA," said John Figueroa, Omnicare's Chief Executive Officer. "We believe
this settlement provides long-term care pharmacies, long-term care facilities
and prescribers with clear direction regarding the procedures that must be
followed when dispensing controlled substances.
"We understand and accept the DEA's efforts to ensure appropriate procedures are
followed during the dispensing of controlled substances. While requiring
authorized prescribers to communicate directly with the pharmacy can potentially
cause delay, we have committed ourselves to shortening the time in which nursing
home residents receive required medication. Through a new enhancement to our
prescriber product, OmniviewDr, we have developed what we believe is the first
electronic prescribing application for controlled substances for the
institutional market. We believe this offering, which also transmits electronic
prescription orders for other non-controlled drugs, will significantly improve
the quality of care for our nation's most vulnerable patient population while
ensuring adherence to DEA regulatory interpretations," concluded Figueroa.
About Omnicare
Omnicare, Inc., a Fortune 400 company based in Covington, Kentucky, provides
comprehensive pharmaceutical services to patients and providers across North
America. As the market-leader in professional pharmacy, related consulting and
data management services for skilled nursing, assisted living and other chronic
care institutions, Omnicare leverages its unparalleled clinical insight into the
geriatric market along with some of the industry's most innovative technological
capabilities to the benefit of its long-term care customers. Omnicare also
provides key commercialization services for the bio-pharmaceutical industry and
end-of-life disease management through its Specialty Care Group. For more
information, visit www.omnicare.com.
Forward-looking Statements
In addition to historical information, this report contains certain statements
that constitute "forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995. These forward-looking statements
include, but are not limited to, all statements regarding the intent, belief or
current expectations regarding the matters discussed or incorporated by
reference in this document (including statements as to "beliefs,"
"expectations," "anticipations," "intentions" or similar words) and all
statements which are not statements of historical fact. Such forward-looking
statements, together with other statements that are not historical, are based on
management's current expectations and involve known and unknown risks,
uncertainties, contingencies and other factors that could cause results,
performance or achievements to differ materially from those stated. The most
significant of these risks and uncertainties are described in the Company's Form
10-K, Form 10-Q and Form 8-K reports filed with the Securities and Exchange
Commission. Should one or more of these risks or uncertainties materialize or
should underlying assumptions prove incorrect, the Company's actual results,
performance or achievements could differ materially from those expressed in, or
implied by, such forward-looking statements. Readers are cautioned not to place
undue reliance on these forward-looking statements, which speak only as of the
date hereof. Except as otherwise required by law, the Company does not undertake
any obligation to publicly release any revisions to these forward-looking
statements to reflect events or circumstances after the date hereof or to
reflect the occurrence of unanticipated events.
# # #
Contact:
Media:
Tim Canning
(859) 392-7444
tim.canning(at)omnicare.com
Investors:
Patrick C. Lee
(859) 392-3444
patrick.lee(at)omnicare.com
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Omnicare via Thomson Reuters ONE
[HUG#1611442]
Unternehmensinformation / Kurzprofil:
Datum: 11.05.2012 - 15:07 Uhr
Sprache: Deutsch
News-ID 145580
Anzahl Zeichen: 6976
contact information:
Town:
Covington, KY
Kategorie:
Business News
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