Apotex to Settle Drug Price Dispute With Texas for $26 Million
Canadian generics manufacturer Apotex has agreed to pay the state of Texas $26 million to settle charges that the company reported inflated drug prices to the state’s Medicaid program for more than 30 years.
Attorney General Ken Paxton alleged that Apotex had misrepresented the prices of multiple medicines, such as the cholesterol-lowering drug atorvastatin, the synthetic opioid painkiller fentanyl and the heartburn treatment ranitidine, among many others.
Paxton charged that Texas’ Medicaid program ended up reimbursing state pharmacies based on the inflated prices Apotex reported to the Medicaid Vendor Drug Program rather than the prices the pharmacies actually paid to acquire the drugs.
Apotex denied any wrongdoing in the case.