Par Pharmaceutical has agreed to pay $154 million to five states to settle a lawsuit accusing the drugmaker of defrauding Medicaid programs in Texas and four other states, according to an American-Statesman report.
Par, based in Woodcliff Lake, N.J., was accused of improperly inflating its drug costs to bilk Medicaid. The suit also alleged kickbacks, rebates and false price markups. Par denied any wrongdoing as part of the settlement agreement.
The state of Texas will receive a $71.8 million portion of the settlement. Approximately $24 million of Texas' settlement will go into the state's general fund, according to the report. The remaining $82.2 million will be shared by Florida, Kentucky, South Carolina and Alaska.
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Par, based in Woodcliff Lake, N.J., was accused of improperly inflating its drug costs to bilk Medicaid. The suit also alleged kickbacks, rebates and false price markups. Par denied any wrongdoing as part of the settlement agreement.
The state of Texas will receive a $71.8 million portion of the settlement. Approximately $24 million of Texas' settlement will go into the state's general fund, according to the report. The remaining $82.2 million will be shared by Florida, Kentucky, South Carolina and Alaska.
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