Posted: Oct 25, 2012 6:20 AM by AP/CS
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.