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Pharmaceutical

Watson Pharmaceuticals to pay $79 million to settle Medicaid fraud allegations

September 28, 2011
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AUSTIN, Texas — Watson Pharmaceuticals Inc. will pay $79 million to settle charges that it defrauded the Medicaid program, the San Antonio Business Journal reported.

According to attorneys for the state of Texas and federal government, the company improperly reported higher drug prices to Medicaid.

As a result of the higher reported prices for generic medicine, the Medicaid program over-reimbursed Watson.

Texas will receive $11.3 million for the state’s general revenue fund as part of its portion of the settlement agreement.
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