Teva Pharma Settles Some Medicaid Drug Price Suits
From Associated Press (February 5, 2010)
NEW YORK -- Teva Pharmaceutical, the world's largest generic
drugmaker, says it is settling several lawsuits related to Medicaid
reimbursement for its products, and is setting aside $315 million
to cover the settlement and other suits.
The Israeli company says the settlement would end lawsuits
involving the U.S. government and the states of Florida, Texas, and
California. It says the lawsuits allege Teva Pharmaceutical
Industries Ltd. inflated the prices of products to get more
reimbursement money from Medicaid programs.
Teva says the settlement would end the claims involving federal
contributions to Medicaid programs, and claims by the three states.
It says other suits remain, but those settlements would resolve
most of the alleged damages. Teva denies the allegations.
Posted: February 2010
