Teva settles $135 million dollar fraud case over Medicaid price inflation

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Israeli multinational Teva Pharmaceuticals has agreed to pay $135 million after being accused of fraudulently inflating wholesale prices that went into calculating Medicaid reimbursement rates.

The payment settles a lawsuit filed in 2005 through which Teva were accused of overcharging Medicaid for medicines.

Teva denied allegations that it had overstated the wholesale price of its prescription drugs and thus defrauded taxpayers. However the firm agreed to pay the multimillion dollar sum.

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Israeli multinational Teva Pharmaceuticals has agreed to pay $135 million after being accused of fraudulently inflating wholesale prices that went into calculating Medicaid reimbursement rates.