(The following is a reformatted version of a press release issued by the Office of Attorney General Buddy Caldwell and received via electronic mail. The release was confirmed by the sender.) October 24, 2012 Attorney General Announces $18.6 Million in New Settlements with Drug Companies Charged with Fraud (BATON ROUGE, LA)--In the state’s ongoing drug price-related litigation, five pharmaceutical companies will pay Louisiana in excess of $18.6 million for misreporting drug price information to Louisiana’s Medicaid program, announced Attorney General Buddy Caldwell. Caldwell said that the fraudulent over-pricing and marketing of prescription drugs has caused the Louisiana Medicaid program to grossly over-pay for various drug prescriptions. “This office has already recovered millions of Medicaid dollars, and millions more will be recovered,” said Attorney General Caldwell. “We want drug companies who do business with the state’s Medicaid program to know that we will hold them accountable for their actions.” Caldwell has made it a priority to aggressively pursue the recovery of taxpayer-funded Medicaid program dollars. Through various court challenges, he has recovered more than $194 million since taking office in 2008. “We’ve taken significant steps to improve the integrity of our Medicaid pharmacy program, including a move away from such fraudulently inflated drug price schedules,” said DHH Secretary Bruce D. Greenstein. “We will continue our collaboration with the Attorney General to protect the integrity of our program, so that providers are reimbursed fairly for the services they provide, Medicaid recipients receive the prescriptions they need, and taxpayers know that their dollars are properly spent.” Listed below are the five companies who will pay the state of Louisiana a combined total of $18,683,000 million: Bristol Myers Squibb $ 7,200,000 Mylan $ 5,000,000 Hoffman-LaRoche $ 4,083,000 Novo Nordisk Pharmaceuticals $ 1,400,000 Shionogi, Inc $ 1,000,000 TOTAL $18,683,000 Since February 2012, the Attorney General’s Office has obtained $83.8 million in this ongoing drug price-related litigation from 18 defendant pharmaceutical companies, including the five announced today. The proceeds recovered in this litigation will be returned to Louisiana’s Medicaid program. Contact: Amanda P. Larkins 225.326.6780 225.302.0505-cell email@example.com (bjh) NY #<873920.6606220.127.116.11.0.76>#
LOUISIANA AG: FIVE DRUG FIRMS TO PAY $18.6M IN SETTLEMENT
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