The pharmaceutical company Mylan will pay $465 million to settle allegations that it misclassified EpiPens as a generic drug to avoid paying higher rebates to Medicaid.

The settlement, which does not include any admission of guilt by Mylan, will fund Medicaid programs in all 50 states and finalizes an agreement made with the Department of Justice last October.

"Mylan misclassified its brand name drug, EpiPen, to profit at the expense of the Medicaid program," Acting United States Attorney of Massachusetts William D. Weinreb said in a statement. "Taxpayers rightly expect companies like Mylan that receive payments from taxpayer-funded programs to scrupulously follow the rules. We will continue to root out fraud and abuse to protect the integrity of Medicaid and ensure a level playing field for pharmaceutical companies."

Mylan CEO Heather Bresch said in a statement that the company looks forward to moving past the dispute, and referenced steps the company has taken to address complaints over recent hikes in the wholesale price of EpiPens

"As we said when we announced the settlement last year, bringing closure to this matter is the right course of action for Mylan and our stakeholders to allow us to move forward," Bresch said. "Over the course of the last year, we have taken significant steps to enhance access to epinephrine auto-injectors, including bringing a solution to the fast-changing healthcare landscape in the U.S. by launching an authorized generic version at less than half the wholesale acquisition cost of the brand and meaningfully expanding our patient access programs."

The Medicaid Drug Rebate Program requires higher rebates from manufacturers of brand name drugs than generics, in what the DOJ said was an effort to prevent price gouging.

But, according to the allegations, Mylan classified EpiPens as generics despite marketing and pricing them as brand name drugs, underpaying Medicaid. In May, the Department of Health and Human Services released an analysis finding the federal health program may have been underpaid for EpiPens by $1.27 billion over a decade.

The settlement will also require Mylan to submit to annual independent reviews of its drug rebate practices. $38.7 million of the payments will go to Sanofi, a rival drug manufacturer that reported the underpayments to the U.S. Attorney's Office in 2014.

The wholesale prices of EpiPens skyrocketed after the pharmaceutical company Mylan bought the rights to the treatment, from around $100 in 2009 to over $600 today.

The spike has put financial pressure on patients, who must pay the full cost if they lack insurance or have not met their health plan's deductible, on public health plans like MassHealth and on local governments who purchase EpiPens for their fire departments and emergency services.

It has also sparked severe criticism of Mylan, from federal lawmakers and from protesters who demonstrated in front of Mylan's headquarters last year. But wholesale prices have not come down, with Mylan CEO Heather Bresch blaming middlemen and drug distributors for taking a large share of EpiPen revenues.

A Mylan representative wrote that it has taken steps to increase accessibility to the drug, including authorizing a half-price generic version and running savings cards and patient assistance programs that can allow patents to pay less than $100 out-of-pocket for the drug.

And the company has provided over 38,000 free epinephrine injectors to Massachusetts schools through its EpiPen4Schools program, the representative wrote.