Reuters: Regulatory News: UPDATE 1-Omnicare settles DoJ probe for $50 mln

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UPDATE 1-Omnicare settles DoJ probe for $50 mln May 11th 2012, 13:44 Fri May 11, 2012 9:44am EDT May 11 (Reuters) - Pharmacy operator Omnicare Inc said it will pay $50 million to settle an investigation by the U.S. Department of Justice (DoJ) concerning errors in the company's distribution of controlled substances. Controlled substances are those whose distribution is strictly regulated by law because of their potential for abuse. Covington, Kentucky-based Omnicare said the civil settlement released the company's wholly-owned and joint venture long-term care pharmacies from all civil penalty claims by the DoJ's Drug Enforcement Administration related to the investigation. "The settlement contains no allegation or finding that any controlled substances were unlawfully diverted from the intended patient or that any patient was harmed," the company said in a statement. Shares in Omnicare were flat at $34.45 on Friday morning on the Nasdaq.

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