Originally published November 27 2005
Pharmaceutical company pays settlement to South Dakota Medicaid
by Mike Adams, the Health Ranger, NaturalNews Editor
King Pharmaceutical, a Tennessee company, has agreed to pay South Dakota's Medicaid program $170,000 for inaccurately reporting drug prices to the federal government.
The South Dakota Medicaid program will receive $170,000 as part of an agreement with King Pharmaceutical, a Tennessee company that incorrectly reported prices to the government, Attorney General Larry Long says.
As a result, King Pharmaceuticals paid $62 million less in rebates to government entities, including state Medicaid programs, Long said in a release.
King Pharmaceuticals was accused of not accurately calculating drug prices reported to the federal government for the purpose of establishing rebates due to state Medicaid programs.
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