description of the photo

Teva Pharmaceutical Settles Medicaid Fraud Allegations for $27 Million

by Andrew Barr on July 20, 2010

Teva Pharmaceutical group settled allegations on July 20, 2010 that the company knowingly inflated the prices of their drugs in order to receive more money from Medicaid. The inflated prices resulted in Medicaid overpaying millions of dollars to pharmacies. The settlement was for $27 million.

The settlement resolves the allegations against the Teva Pharmaceutical group of companies that allegedly engaged in a practice of knowingly setting and reporting inflated prices for medications dispensed by pharmacies and other providers who were then reimbursed by the Florida Medicaid program. The Medicaid program sets the reimbursement rates it pays to Medicaid providers based upon the prices reported by drug manufacturers. By reporting inflated prices, the drug manufacturers caused the Florida Medicaid Program to overpay millions of dollars in pharmacy reimbursements.

The full story here.

Previous post:

Next post: