Court Rules AstraZeneca Overcharged KY Medicaid Program
AstraZeneca yesterday was found liable by a Kentucky court of ripping off that state’s Medicaid program.
“AstraZeneca, maker of popular drugs such as Crestor, Nexium and Seroquel, must reimburse Kentucky $14.72 million after overcharging its Medicaid program between November 1999 and March 2005.
“AstraZeneca lied when reporting its average wholesale price on a number of drugs, said George Galland, representing Kentucky in the civil fraud trial that ended Thursday.
“AstraZeneca inflated its prices between 20 and 30 percent depending on the drug, Galland told the jury in his summation.
“The average wholesale price is calculated by adding a percentage to the price wholesalers pay for the drug. The percentage, usually between 1 and 3 percent, represents a profit that the wholesalers get after selling the drugs to pharmacies.”
These pharma companies sure are bottomless where it comes to deceit.
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- AstraZeneca Offers Buyouts To Entire Sales Force
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Posted in Furious Seasons