Indian generic drug manufacturer Ranbaxy Laboratories has agreed to pay the State of Texas nearly $40 million to resolve a Texas Medicaid fraud lawsuit alleging the company defrauded the Texas Medicaid program by reporting inflated market prices for its drugs, resulting in larger reimbursements. The agreement calls for Ranbaxy to pay the Texas general revenue fund and the federal government each $17.875 million and another $4 million in attorney fees to the state’s attorney general office. The federal government receives a percentage of the settlement funds because it subsidizes state Medicaid programs. The payments, totaling $39.75 million, will be made in ... Read More
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