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Alabama Settles Suits With 6 Pharma Companies For $89M

Fri, 05/22/2009 - 9:28am
MONTGOMERY, Ala. (AP) — Six prescription drug manufacturers have settled Medicaid drug pricing lawsuits with the state of Alabama for $89 million. The companies were among the more than 70 that Attorney General Troy King sued in 2005, charging them with manipulating the price that the state's Medicaid program pays for prescription drugs. The state had previously settled with 10 companies for almost $35 million. The state's lawsuits against four companies have gone to trial and each ended in multimillion-dollar jury verdicts for the state. King said Friday the bulk of the money from the latest settlement will go into the state's cash-strapped General Fund Budget. That's the budget that funds Medicaid, state troopers, prisons and other non-education state services.

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