Abbott Accused Of Inflating Drug Prices By 1000%

Law360, New York (June 5, 2007, 12:00 AM EDT) -- Drug maker Abbott Laboratories inflated its published pharmaceutical prices by up to 1000% to scam Medicare and boost sales of its drugs, U.S. health officials claimed in a lawsuit.

In an amended lawsuit filed Monday to the U.S. District Court for the District of Massachusetts, the federal government accuses the pharmaceutical company of fraudulently overstating its listed prices to ensure inflated Medicare reimbursements to its customers.

To profit from the scheme, the company shamelessly promoted the difference between the fake, bloated prices and its actual prices...
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