Israel-based Teva, a generic pharmaceutical company, said it is named, along with other pharmaceutical companies, in numerous civil lawsuits alleging the prices it reported caused Medicaid and other government programs to pay inflated reimbursements. Teva denies the allegations, which Ven-A-Care brought on behalf of the U.S., Texas, Florida, and California under federal and state False Claims Acts.
Teva said the charge would include both the settlement and a reserve for remaining drug pricing lawsuits filed against the company. The settlement in principal awaits definitive settlement documents and government and court approvals. The preliminary settlement will eliminate most of the alleged damages against Teva in the various drug-pricing lawsuits, the company said.
Read the release on the Teva settlement.
