Pfizer, Endo Pay $50M To Settle Drug Price Inflation Claims

Law360, New York (January 4, 2013, 4:51 PM EST) -- Texas authorities said Friday that Pfizer Inc. and Endo Pharmaceuticals Inc. each coughed up $25 million to settle allegations their subsidiaries reported inflated drug prices to Texas’ Medicaid program, the latest drug companies to resolve long-standing allegations originally made by a whistleblower.

The state claims that Pfizer and Endo subsidiaries misreported the price of various generic drugs to Medicaid, causing the program to be overcharged for those drugs, according to Texas Attorney General Greg Abbott.

Under the agreements, Texas will receive $18 million each from Pfizer...
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