29-Dec-2011 - Actavis settles Medicaid fraud case for 84 million (Reuters)

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(Reuters) – Actavis Group has reached an $84 million settlement with Texas to resolve civil claims that it defrauded the state's Medicaid program by artificially inflating prices for its generic drugs. In announcing the accord with U.S. units Actavis Elizabeth LLC and Actavis Mid-Atlantic NFL jerseys china LLC, Texas Attorney General Greg Abbott said Actavis' inaccurate price reporting caused the Medicaid program to overpay pharmacies for prescription drugs. Actavis had been appealing a $170.3 million verdict handed down in February by a Travis County state jury. The cheap nba jerseys case arose from a whistleblower lawsuit filed more than one decade ago. The company did not admit liability in agreeing to settle, and both Actavis and Texas agreed to settle to avoid further litigation, according to the settlement agreement. An Actavis spokesman declined to make an immediate comment. Actavis is an Icelandic company with offices in Reykjavik and in Zug, Switzerland. It also has U.S. operations in Morristown, New Jersey. The NFL jerseys supply company was taken private for $3 billion in 2007 by Novator Partners, an investment vehicle of Actavis' chairman, the Icelandic businessman Bjorgolfur Thor Bjorgolfsson. (Reporting by Jonathan Stempel in New York; Editing by Tim Dobbyn)

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