Dey Inc.

Boston, MA: (Apr-20-07) Massachusetts' Attorney General Martha Coakley's office filed charges against Dey Inc. of California, alleging that the generic pharmaceutical manufacturer inflated the wholesale prices it reported to national reporting services, prompting the state Medicaid program to pay more for the company's drugs. The suit was a move to prohibit pharmaceutical companies from manipulating the Medicaid price reporting system. Medicaid programs and the federal Medicare program use the prices given by manufacturers to national price reporting services as the basis for reimbursements to pharmacies and other drug providers. In a settlement reached, Dey Inc. agreed to pay the state of Massachusetts nearly $3 million to settle allegations as well as pay the state a five percent rebate on future purchases for five years. [WCSH NEWS: DEY DRUG PRICES]

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Published on Apr-23-07