Teva Pharmaceutical (TEVA), the world's largest maker of generic drugs, is settling lawsuits related to Medicaid reimbursement.
The company will set aside $315 million to cover the settlement and other suits.
The settlement will end lawsuits involving the U.S. government and Florida, Texas, and California. The lawsuits allege Teva inflated the prices of products to increase its reimbursement money from Medicaid programs.
The lawsuit was brought by Ven-A-Care of the Florida Keys Inc.
Share of the company dropped 2% to $56.75 in Friday trading.
via foxbusiness.com
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