Teva Pays $169M To Settle Medicaid Fraud Charges
Make a commentBy Ed Silverman // July 21st, 2010 // 9:59 am
Teva Pharmaceuticals agreed to pay $169 million to settle allegations brought by Texas, California, Florida and the US government that the drugmaker inflated the prices of its meds in order to receive larger reimbursements from various Medicaid programs (here is the settlement). Earlier this year, Teva set aside $315 million to cover settlements and other litigation related to alleged Medicaid fraud (see here).
The litigation was initiated by Ven-A-Care of the Florida Keys, which in recent years has filed several suits against drugmakers, including Schering-Plough, Mylan Labs, Abbott Labs and Sanofi-Aventis. Texas also initiated legal action against Mylan Laboratories and Sandoz in 2007, although those drugmakers did not settle the case (see statement from the Texas Attorney General).
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California, Florida, Medicaid, Mylan Laboratories, Sandoz, Teva Pharmaceuticals, Texas