June 13, 2006
Baxter International, a maker of blood-disease treatments, has agreed to pay $8.5 million to settle a suit alleging it falsely reported the prices of drugs to the Texas Medicaid system. The suit was brought against Baxter, as well as Abbott Laboratories and B. Braun Medical Inc., in 2004. The other defendants have not yet settled.
The suit alleged that the companies misreported prices of intravenous fluids and injectable medications, causing Texas Medicaid to reimburse pharmacies at above-market rates.
The Chicago Tribune ran the Bloomberg story on June 13, 2006.