Overpriced Drugs

Austin, TX: (Nov-20-07) Texas Attorney General Greg Abbott's office brought charges against pharmaceutical giant GlaxoSmithKline, alleging that the drug company engaged in Medicaid mis-pricing. The charges claimed that related companies overcharged the state for three prescription drugs between 1994 and 2002. Allegations included that GlaxoSmithKline overstated the market value of Kytril, Zofran and Amoxil to the Texas Medicaid program. The state then reimbursed GlaxoSmithKline customers, mostly pharmacies, more than the drugs originally cost them from the supplier. As part of a settlement reached, GlaxoSmithKline agreed to pay $1.4 million to resolve charges. Sources confirmed that the company has already paid the federal government its share of the total $2.8 million agreement. [LEGAL NEWS LINE: OVERPRICED DRUGS]

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Published on Nov-22-07