FRANKFORT, Ky. (AP) – Attorney General Andy Beshear says Kentucky’s role in a settlement with a pharmaceutical company will result in nearly $300,000 being returned to the state’s Medicaid accounts.
He says the multistate settlement resolves allegations that Novartis Pharmaceuticals provided kickbacks to specialty pharmacies in exchange for recommending the drug Exjade to Medicaid and Medicare patients.
Exjade was approved by the U.S. Food and Drug Administration in 2005 for treatment of chronic iron overload due to blood transfusions. After launching the drug, Novartis marketed Exjade as a treatment for patients with a number of underlying conditions that affect blood cells or bone marrow.
Beshear says the settlement means $295,916 will be returned to Kentucky’s Medicaid accounts. He says in his first six weeks as AG, his office has returned $2.8 million to the Medicaid program.
Copyright 2016 The Associated Press