Kentucky Pharmaceutical Settlement Reached

(WTVQ-TV, LLC)
(WTVQ-TV, LLC)
Set Text Size SmallSet Text Size MediumSet Text Size LargeSet Text Size X-Large
Share
Updated: 3/28/2012 12:10 pm
A $2.75 million settlement has been reached with Novartis Pharmaceuticals Corporation over allegations that the company published false and inflated average wholesale prices for its drugs.

This settlement is the latest in a number of settlements in AWP lawsuits filed by the Office of the Attorney General in Frankfort Kentucky against 47 pharmaceutical manufacturers. The Kentucky Medicaid program relied on published average wholesale prices to calculate Medicaid drug reimbursement rates.

The lawsuits allege that Novartis and the other defendants published false, inflated and deceptive average wholesale prices for their drugs that bore no relationship to the real prices that Novartis was actually charging its customers. 

Novartis Pharmaceuticals is a U.S. subsidiary of global pharmaceutical giant Novartis International AG headquartered in Basel, Switzerland. Novartis AG is the second largest pharmaceutical company in the world.  It also owns Sandoz, a large manufacturer of generic drugs.  Among the many drug products that Novartis manufactures are Clozaril (schizophrenia), Diovan (hypertension), Exelon (Alzheimer's disease), Lotrel (cholesterol), Ritalin (AD/HD) and Tegretol and Trileptal (epilepsy).  

 


Share
0 Comment(s)
Comments: Show | Hide

Here are the most recent story comments.View All

No comments yet!
Most Popular
Witnesses Record Standoff In Richmond Saturday Night
Two men saw the standoff in Richmond Saturday night between multiple law enforcement agencies and 29-year-old Jesse Aaron Gibbons, and recorded it. Troopers said Gibbons died on the way to the hospital. Video Video
UPDATE: Suspect Shot To Death By Police Identified
The Fayette County Coroner released the name of the man shot and killed by police after a shootout in Richmond Saturday night. Video Video
Five Arrested In Laurel County Drug Bust
Five people were arrested Saturday morning after deputies found they had drugs in their home. Video Video
Suspect Dies After Chase And Shootout With Police
Lexington police say the suspect assaulted an officer in Lexington. The suspect fled south to Richmond, where KSP says the suspect fired at officers. KSP says officers returned fire, and the suspect died at UK Hospital
Judge: Too Late to Sue for Misdiagnosis of HIV
A big court ruling involving a Lexington man who claimed UK doctors mistakenly told him he was HIV positive only to find out nearly a decade later, he wasn’t. Video Video
Inergize Digital This site is hosted and managed by Inergize Digital.
   

WTVQ.com supports children's privacy rights. All persons under the age of 13 MUST have parental permission to use this website and direct parental supervision is strongly recommended.