Abbott, feds settle with Mylan

Keith Loria Jan. 3, 2011, 8:14am

AUSTIN (Legal Newsline) - Texas Attorney General Greg Abbott announced on Thursday that the Texas Medicaid program will receive $23 million of a $65 million state/federal settlement with a drug manufacturer that allegedly reported inaccurate drug prices.

Mylan Laboratories -- with national subsidiaries Mylan Pharmaceuticals and UDL Laboratories -- allegedly inaccurately reported the price of its drugs to the Texas Medicaid program. This caused the Texas Medicaid program to significantly overpay pharmacies for certain generic drugs.

Under Texas law, all manufacturers are required to accurately report market prices to the taxpayer-funded program since it bases its reimbursement to pharmacies on the pricing information reported.

Read the full story at Legal Newsline.

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