To cover the cost of a settlement and other lawsuits related to Medicaid reimbursement, the world's largest generic drugmaker is setting aside $315 million, although Teva hasn't disclosed how much it will actually pay (here is the statement) and other lawsuits remain unresolved.
In any event, the lawsuits, which allege Teva inflated the prices of drugs in order to get bigger Medicaid reimbursements, involved the federal government as well as the states of Florida, Texas, and California. The lawsuit was brought by Ven-A-Care of the Florida Keys, which in recent years has filed several suits against drugmakers, including Schering-Plough, Mylan Labs, Abbott Labs and Sanofi-Aventis. About 15 states are involved altogether.
5 Comments
Those folks at Ven-A-Care rock, they have extracted many millions from pharma cos, for shady business.
Then it's a good match; Teva is no angel either.
I have not seen the suit but Ven-A-Care may have missed something...this may be a pretty good deal for Teva.
You can be certain that Teva's generic side is squeaky clean. This is no doubt a Copaxone issue...and is something that about every Phrma mfgr has gone through. It all shakes down to what actually is the lowest price of the day!
Here in out state, Medicaid will only pay for certain ABCR drugs event though the different meds may be documented to be better at treating certain forms of MS. I worry that the pricing issues and strategies like rebates make it virtually impossible for physicians to treat their patients using evidence based medicine...with the medical evidence properly including and adding weight to the patients unique medical info...i.e patients medical file as reviewed when necessary by a qualified clinical peer