Drug Price Settlements - KLFY News 10

Drug Price Settlements

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BATON ROUGE, La. (AP) - Louisiana Attorney General James "Buddy" Caldwell's office says five pharmaceutical companies will pay the state more than $18.6 million to resolve allegations they misreported drug price information to the state's Medicaid program.

Caldwell's office says it has recovered a total of more than $83.8 million from 18 companies through ongoing drug-price litigation since February.

The latest settlements calls for Bristol Myers Squibb to pay $7.2 million, Mylan to pay $5 million, Hoffman-LaRoche to pay $4 million, Novo Nordisk Pharmaceuticals to pay $1.4 million and Shionogi Inc. to pay $1 million.

Caldwell claims the state's Medicaid program has overpaid for drug prescriptions due to fraudulent over-pricing and marketing of the drugs.

The dollars collected will go back into Medicaid, according to the attorney general's office.

(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

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