Idaho receives over a million in excessive drug pricing settlement

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by Associated Press

KTVB.COM

Posted on July 16, 2012 at 5:13 PM

BOISE -- Idaho has reached a $1.7 million settlement with a pharmaceutical company over allegations of excessive wholesale prices paid by the state's Medicaid program.

Attorney General Lawrence Wasden announced the deal Monday with Watson Pharmaceuticals Inc., and Watson Pharma, Inc. Watson is among the top four generic drug companies in the world.

Wasden sued the company in 2007 seeking to recover taxpayer money used to pay high prices charged to Idaho Medicaid for prescription drugs. Before filing the lawsuit, Wasden said an investigation by his office found drug companies like Watson were posting false and inflated prices for their drugs on the wholesale market.

The state will use about $1.05 million to reimburse overpayments made by Medicare. 

So far, Idaho has recovered $22 million in similar lawsuits with drug makers.

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