The state of Alabama has settled Medicaid drug pricing lawsuits it filed against prescription drug manufacturer Bristol-Myers Squibb and four other companies, a lawyer representing the state confirmed Friday.
Bristol-Myers Squibb is one of more than 70 companies the state has sued for allegedly overcharging the state's Medicaid program. Earlier this year, state juries returned multimillion-dollar verdicts against three of the pharmaceutical companies.
Jere Beasley, a Montgomery lawyer representing the state, said agreements also were reached with four other companies, which he did not immediately name.
Another state attorney, Dee Miles, said the amount of the settlements could not immediately be released.
The state's lawsuit against Bristol-Myers Squibb had been scheduled to be tried beginning Oct. 27 in Montgomery County Circuit Court.
A spokeswoman for Bristol-Myers, Laura Hortas, said the company did not have any immediate comment.
Alabama Attorney General Troy King sued the drug companies in 2005 over drug prices for Medicaid recipients. King was out of town Friday afternoon and could not be immediately reached for comment.
The settlements were reached after the first trials led to jury verdicts in favor of the state.
A jury in February ordered the U.S. subsidiary of U.K. drugmaker AstraZeneca, to pay the state $215 million -- $40 million in compensatory damages and $175 million in punitive damages. But Circuit Judge Charles Price cut the total amount of the damages to $160 million.
In July, another Montgomery County jury found in favor of the state in lawsuits against the drug companies GlaxoSmithKline and Novartis. The jury found GSK liable for nearly $81 million in compensatory damages and found Novartis owed the state about $33 million in similar damages. No punitive damages were awarded.
AstraZeneca, GlaxoSmithKline and Novartis have all appealed their cases to the Alabama Supreme Court.
Before those trials, the state settled lawsuits against drug manufacturers Takeda Pharmaceuticals North America Inc. for $2 million and against Dey LP for $4.75 million.
Bristol-Myers Squibb is one of more than 70 companies the state has sued for allegedly overcharging the state's Medicaid program. Earlier this year, state juries returned multimillion-dollar verdicts against three of the pharmaceutical companies.
Jere Beasley, a Montgomery lawyer representing the state, said agreements also were reached with four other companies, which he did not immediately name.
Another state attorney, Dee Miles, said the amount of the settlements could not immediately be released.
The state's lawsuit against Bristol-Myers Squibb had been scheduled to be tried beginning Oct. 27 in Montgomery County Circuit Court.
A spokeswoman for Bristol-Myers, Laura Hortas, said the company did not have any immediate comment.
Alabama Attorney General Troy King sued the drug companies in 2005 over drug prices for Medicaid recipients. King was out of town Friday afternoon and could not be immediately reached for comment.
The settlements were reached after the first trials led to jury verdicts in favor of the state.
A jury in February ordered the U.S. subsidiary of U.K. drugmaker AstraZeneca, to pay the state $215 million -- $40 million in compensatory damages and $175 million in punitive damages. But Circuit Judge Charles Price cut the total amount of the damages to $160 million.
In July, another Montgomery County jury found in favor of the state in lawsuits against the drug companies GlaxoSmithKline and Novartis. The jury found GSK liable for nearly $81 million in compensatory damages and found Novartis owed the state about $33 million in similar damages. No punitive damages were awarded.
AstraZeneca, GlaxoSmithKline and Novartis have all appealed their cases to the Alabama Supreme Court.
Before those trials, the state settled lawsuits against drug manufacturers Takeda Pharmaceuticals North America Inc. for $2 million and against Dey LP for $4.75 million.
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