Saturday, October 24, 2009
Ky. Reaches Settlements With Pharmaceuticals
As part of a $124 million settlement with four pharmaceutical companies, Kentucky is set to receive $1.6 million, with $500,000 going to the state Medicaid program. The settlement stems from allegations that they submitted false claims to Medicaid. While participating in a Medicaid Rebate Program, they agreed to pay quarterly rebates to Medicaid based on money Medicaid paid for their drugs, but it was alleged they underpaid their obligations. Mylan Pharmaceutical Inc. will pay $118 million. UDL Laboratories Inc. and AstraZeneca Pharmaceuticals will pay $2.6 million, and Ortho McNeil Pharmaceutical Inc. will pay $3.4 million.
# posted by Homer Owens @ 6:05 PM 
