The U.S. Health & Human Services Dept. subpoenaed Murray Hills, N.J.-based Bard in November 2006 over the cancer treatment business, under the False Claims Act and federal healthcare fraud statutes, according to regulatory filings.
In January 2012 Bard said it reached a preliminary agreement on the $51 million settlement, noting that it had already recorded a $51 million charge on its 4th-quarter 2011 books.
Today the medical device company said the settlement is final, according to the filings.
Last month Bard said $26 million in costs stemming from another legal issue, the recall of its transvaginal mesh products, pushed its 1st-quarter profits down nearly 35%.