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Fri October 16, 2009
Jury: $14.7 Million Verdict against Astrazeneca
Frankfort, KY – A Franklin County Circuit Court jury has hit drug-maker AstraZeneca with a $14.7 million verdict in a case that claimed the company inflated its prescription drug prices for Medicaid reimbursements.
Attorney General Jack Conway says in a news release he's pleased the office was able to recover money for Kentucky's Medicaid program. The state's Medicaid program calculates its drug reimbursement rates based on published average wholesale prices. Prosecutors claimed AstraZeneca inflated those published prices.
Laura Woodin, a company spokeswoman, said in a statement that Wilmington, Delaware-based AstraZeneca is disappointed by the jury's decision. Woodin says the company believes the claims are unfounded and is considering its options, including appeal.