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Tue May 14, 2013
ILL To Receive $12 Million In Pharmaceutical Settlement
Illinois is expected to receive more than $12 million in a settlement with a pharmaceutical company accused of selling diluted drugs. The state's Attorney General Lisa Madigan announced the settlement yesterday. The money is part of a $500 million federal and state settlement against India-based Ranbaxy. The federal lawsuit stated the company knowingly manufactured, distributed and sold 26 generic drugs whose strength, purity or quality fell below standards approved by the U.S. Food and Drug Administration.
The attorney general's office says the company also submitted false claims to state and federal Medicaid programs. Madigan says the company put Illinois Medicaid patients at risk by producing and selling possibly tainted drugs.