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The Justice Department and EpiPen maker Mylan announced a settlement of $465 million over EpiPen’s misclassification under the Medicaid Drug Rebate Program, far below a government watchdog’s overpayment estimate of $1.27 billion over 10 years.

"The settlement amount is a disappointment," Senator Grassley said. "A company got away with overcharging the taxpayers for a long time. The agencies that are supposed to look out for taxpayers should not be pulling their punches. If there’s any good news, it’s that EpiPen will be classified the right way going forward."