Watson Gets $17.8M Jolt For Medicaid Drug Pricing

Law360, New York (March 24, 2014, 9:42 PM EDT) -- A Mississippi court ordered Watson Pharmaceuticals Inc. to pay $17.8 million in punitive damages to the state last Monday, in Medicaid fraud litigation accusing pharmaceutical companies of using inflated average wholesale prices to milk money from the state’s Medicaid program.

Judge Hollis McGehee awarded the punitive damages to Mississippi, in addition to $12.3 million in compensatory damages already levied against Watson, which is one of 54 drugmakers being targeted in the combined average-wholesale-price inflation lawsuit.

Watson had reported to the state higher prices for its drugs...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.