Allegedly inflated drug prices cost Abbott $28M
Pharma Compliance Alert, September 17, 2008
Abbott Laboratories will pay Texas $28 million to resolve allegations the company fraudulently inflated costs for prescription drugs, according to a release from the Texas Attorney General (AG).
The Texas AG filed suit against Abbott in 2004 for allegedly falsely reporting drug prices to the state and federal Medicaid programs. As a result of the false pricing, the state Medicaid agency vastly over-reimbursed providers for Abbott’s drugs, according to the AG.
Under the settlement, Texas Medicaid will receive $18 million with the remaining $10 million to cover attorneys’ fees and costs.
- Alpharma
- Barr Pharmaceuticals
- B Braun Medical
- Parr Pharmaceutical
- Watson Pharmaceuticals
All are accused of fraudulently inflating drug prices.
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