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Healthcare Business News

Idaho collects $2.9 million in drug firm settlement

By Associated Press
Posted: December 28, 2012 - 7:45 am ET

Idaho will be collecting $2.9 million as part of the latest settlement with two national pharmaceutical companies.

Idaho Attorney General Lawrence Wasden announced Thursday an agreement reached with Pfizer Inc. and Pharmacia Corp.

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The agreement stems from a 2007 lawsuit filed by Idaho and other states over allegations the companies were inflating the average wholesale prices of drugs. Idaho and other states alleged the flawed pricing system was causing Medicaid programs to overpay for drugs like Zyrtec and Celebrex.

The settlement is intended to reimburse taxpayers for the excessive prices Idaho Medicaid paid for prescription medicines.

So far, Wasden and his office have recovered more than $25 million in similar settlements with 36 drug makers. Lawsuits are still pending against two other companies.

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