Company accused of paying kickbacks to induce claims for Crysvita
- Ultragenyx to pay $6 million to settle alleged false Medicare and Medicaid claims
- Justice Department alleges company paid kickbacks to induce claims for Crysvita
- Allegations involve Ultragenyx paying for free genetic tests and buying test results
- Crysvita is a treatment for X-linked hypophosphatemia
Ultragenyx Pharmaceutical has agreed to pay $6 million to resolve allegations made by the Justice Department regarding false Medicare and Medicaid claims. The allegations involve Ultragenyx paying for free genetic tests for patients and purchasing test results to encourage prescriptions of its drug Crysvita, which is used to treat X-linked hypophosphatemia (XLH). The Justice Department claims that the company paid kickbacks to induce claims for Crysvita. This settlement highlights the importance of transparency and compliance in the healthcare industry.
Public Companies: Ultragenyx Pharmaceutical (Unknown)
Private Companies:
Key People:
Factuality Level: 8
Justification: The article provides specific details about the allegations made by the Justice Department against Ultragenyx Pharmaceutical. It mentions the payment of $6 million to resolve the allegations and explains how the company allegedly paid for genetic tests and bought test results to induce prescriptions. The information is clear and specific, without any obvious bias or misleading information.
Noise Level: 7
Justification: The article provides information about Ultragenyx Pharmaceutical agreeing to pay $6 million to resolve allegations by the Justice Department. However, it lacks in-depth analysis or exploration of long-term trends or consequences. It does not provide evidence or data to support the claims made. The article also does not offer any actionable insights or solutions. Overall, it contains some relevant information but lacks depth and supporting evidence.
Financial Relevance: Yes
Financial Markets Impacted: The financial markets may be impacted if Ultragenyx Pharmaceutical’s stock price is affected by the settlement.
Presence of Extreme Event: No
Nature of Extreme Event: No
Impact Rating of the Extreme Event: No
Justification: The article pertains to financial topics as it discusses a settlement between Ultragenyx Pharmaceutical and the Justice Department. The settlement amount of $6 million may impact the company’s financials and potentially its stock price. However, there is no mention of an extreme event in the article.
www.wsj.com 
