Florida was among five states that reached a $154 million settlement with Par Pharmaceuticals over allegations of Medicaid fraud.
Attorney General Pam Bondi said the state would collect $26.6 million from its portion of the settlement with the New Jersey-based company (NYSE: PRX). The state alleged that Par Pharma knowingly fixed drug prices in order to overbill the Medicaid program.
Another $9 million from the settlement will go to Ven-A-Care of the Florida Keys, which filed the whistleblower complaint that started this case. That company has collected over $100 million from filing whistleblower lawsuits against major drug companies.
Ven-A-Care co-owners Luis E. Cobo and Terry Mark Jones are also major investors in First State Bank of the Florida Keys. In fact, they recently asked regulators for permission to increase their stake in that bank.
Thursday, August 25, 2011
Chalk up another win for Ven-A-Care! Florida reaches $26M fraud settlement with Par Pharma - South Florida Business Journal
via bizjournals.com
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