05:07 PM EDT, 04/10/2024 (MT Newswires) -- The US Department of Justice on Wednesday filed a complaint against Regeneron Pharmaceuticals ( REGN ) alleging that the company fraudulently manipulated Medicare reimbursement for its drug Eylea.

The complaint alleges that the company submitted "false average sales price (ASP) reports to Medicare," the Department of Justice statement said, adding that Medicare uses the average sales price to establish reimbursement rates for drugs.

The DOJ said Eylea is "a leading Medicare expense" with payments of over $25 billion from 2012 to 2023.

Eylea is used to treat eye disease wet age-related macular degeneration and other conditions.

Regeneron did not immediately respond to a request for comment by MT Newswires.

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