Drug company will pay $3.8M in Massachusetts
10.03.10
BOSTON (Legal Newsline) - Massachusetts Attorney General Martha Coakley has reached a settlement with a New Jersey-based pharmaceutical manufacturer over alleged false and inflated price reports.
Actavis Elizabeth LLC agreed to a $3.6 million settlement over its reports to drug industry price reporting services that caused, Coakley claims, the Massachusetts Medicaid Program to pay inflated amounts for ingredient costs on prescriptions for Medicaid recipients.
"The Massachusetts Medicaid Program provides critical health care services to thousands of Massachusetts residents," Coakley said.
"This settlement represents a positive step forward in our efforts to address false price reporting, an issue that continues to afflict the program.
"Our office will continue to work with MassHealth and the federal government to maintain the integrity of the pharmaceutical reimbursement program and ensure that it is fair to all involved parties."
Actavis was sued
Source: Legal News Line
Lotus Pharmaceuticals Announces New Prescription Drugs
02.03.10
Sells drugs
directly and indirectly through its national sales channels to hospitals,
clinics and drugs stores in 30 provinces of the PRC.
Safe Harbor Statement
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results expressed or implied by such statements, including, but not limited to,
changes from anticipated levels of sales, future national or regional economic
and competitive and regulatory conditions, changes in relationships with
customers, access to capital, increased costs, difficulties in developing and
marketing new products, marketing existing products, customer acceptance of
existing and new products, the time to get new drugs approved by the State
Food and Drug Administration and other factors. Additional information
regarding risks can be found in the Company's Annual Report on Form 10K and
its prior filings with the SEC. Accordingly, although the Company believes
that the expectations reflected in such forward-looking statements are
reasonable, there can be no assurance that such expectations will prove to be
correct. The Company has no obligation to update the forward-looking
information contained in this press release.
Source: PR Newswire (press release)
Attorney General Martha Coakley's Office Reaches $3.6M Settlement with Drug ...
09.03.10
Attorney General Martha Coakley’s Office Reaches $3.6M Settlement with Drug Manufacturer Actavis Elizabeth
BOSTON -- Attorney General Martha Coakley 's Office has reached a $3.6 million settlement agreement with Actavis Elizabeth LLC ("Actavis"), an Elizabeth, New Jersey-based pharmaceutical manufacturer, resolving a Massachusetts False Claims Act case pending in United States District Court in Boston. The lawsuit alleged Actavis reported false and inflated prices to drug industry price reporting services, which caused the Massachusetts Medicaid Program to pay inflated amounts for ingredient costs on prescriptions for Medicaid recipients. The monies recovered will be returned to the Massachusetts Medicaid Program, MassHealth.
"The Massachusetts Medicaid Program provides critical health care services to thousands of Massachusetts residents. This settlement represents a positive step forward in our efforts to address false price reporting, an issue that continues to afflict the program," Attorney General Coakley said. "Our office will continue to work with MassHealth and the federal government to maintain the integrity of the pharmaceutical reimbursement program and ensure that it is fair to all involved parties."
Source: Citybizlist (press release)