Teva settles drug price inflation lawsuit

JERUSALEM Teva Pharmaceutical Industries has reached a settlement in a case alleging that governments had to pay inflated prices for its drugs, the world’s largest generic drug manufacturer announced Friday.

Teva is one of several drug companies named in lawsuits around the country related to drug price reporting by manufacturers in 15 states, generally alleging that drug prices that the companies reported caused governments to pay inflated reimbursements for drugs under Medicaid and other programs, though Teva denies the allegations.

The case in question was brought by Ven-A-Care of the Florida Keys on behalf of the United States government and governments of Texas, Florida and California under federal and state False Claims Acts. Teva said it would set aside about $315 million, including the settlement and a reserve for the remaining drug pricing lawsuits.

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