WALTHAM, Mass., Sept. 28, 2017 /PRNewswire/ -- Alere Inc.
(NYSE: ALR) (the "Company"), a global leader in rapid diagnostic
tests, today announced that it has reached an agreement in
principle to settle with the U.S. Department of Justice (the "DOJ")
to resolve various potential civil claims, including claims under
the False Claims Act, relating to Alere Triage® cardiac and
Toxicology products sold between January
2006 and March 31, 2012. The
settlement relates to matters arising out of the previously
disclosed 2012 FDA inspection of Alere San Diego and the Office of
Inspector General subpoena.
Alere issued the following statement:
We have cooperated with the DOJ
investigation, and we are pleased to reach this agreement in
principle that would fully resolve this matter with DOJ.
If the ongoing discussions with the DOJ are successfully
concluded, we believe the total combined payment to the Department
of Justice and the participating states will be within the
$35 million loss contingency reserve
previously taken by the Company.
About Alere
Alere believes that when diagnosing and
monitoring health conditions, Knowing now matters™. Alere delivers
reliable and actionable information by providing rapid diagnostic
tests, enhancing clinical and economic healthcare outcomes
globally. Headquartered in Waltham,
Mass., Alere focuses on rapid diagnostics for
cardiometabolic disease, infectious disease and toxicology.
For more information on Alere, please visit www.alere.com.
Cautionary Statement Regarding Forward-Looking
Statements
This communication contains forward-looking
statements within the meaning of Section 27A of the Securities Act
of 1933, as amended, and Section 21E of the Securities Exchange Act
of 1934, as amended. Readers can identify these statements by
forward-looking words such as "may," "could," "should," "would,"
"intend," "will," "expect," "anticipate," "believe," "estimate,"
"continue" or similar words. A number of important factors could
cause actual results of Alere and its subsidiaries to differ
materially from those indicated by such forward-looking statements.
These factors include, but are not limited to, (i) the risk that
the ongoing discussions with the DOJ are not successfully concluded
and do not result in a settlement and (ii) the risk that any
payment to settle any litigation or investigation exceeds the
anticipated amounts and loss contingency reserves previously taken
by the Company; and (iii) the risk factors detailed in Part I, Item
1A, "Risk Factors," of our Annual Report on Form 10-K for the
fiscal year ended December 31, 2016
(as filed with the Securities and Exchange Commission on
June 5, 2017) and other risk factors
identified herein or from time to time in our periodic filings with
the SEC. Readers should carefully review these risk factors, and
should not place undue reliance on our forward-looking statements.
These forward-looking statements are based on information, plans
and estimates at the date of this communication. We undertake no
obligation to update any forward-looking statements to reflect
changes in underlying assumptions or factors, new information,
future events or other changes.
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SOURCE Alere Inc.