Five pharma companies settle with La. AG Caldwell

BATON ROUGE, La. (Legal Newsline) - Louisiana Attorney General James Caldwell announced on Wednesday that five pharmaceutical companies will pay the state more than $18.6 million as part of the state's ongoing drug price-related litigation.

The five companies - Bristol Myers Squibb, Mylan, Hoffman-LaRoche, Novo Nordisk Pharmaceuticals and Shionogi Inc. - allegedly misreported drug price information to Louisiana's Medicaid program. The over-pricing and marketing of the prescription drugs allegedly caused the state Medicaid program to grossly over-pay for various drug prescriptions.

"This office has already recovered millions of Medicaid dollars, and millions more will be recovered," Caldwell said. "We want drug companies who do business with the state's Medicaid program to know that we will hold them accountable for their actions."

Under the terms of the settlement, Bristol Myers Squibb will pay the state $7.2 million, while Mylan will pay $5 million. Hoffman-LaRoche agreed to pay $4.083 million and Novo Nordisk will pay $1.4 million. Shionogi will pay $1 million under the settlement.

Caldwell's office has secured $83.8 million in settlements since February from drug-price related litigation from 18 defendants pharmaceutical companies.