Teva Pharma settles some Medicaid biologic amount suits

NEW YORK – Teva Biologic Industries Ltd., the world's better all-encompassing drugmaker, said Friday it is clearing several lawsuits accompanying to Medicaid agreement for its products, and is ambience abreast $315 actor to awning the adjustment and added suits.

Teva did not say how abundant it will pay to boldness the lawsuits and how abundant will be placed in reserve. The Israeli aggregation said the adjustment would end lawsuits involving the U.S. government and the states of Florida, Texas, and California. It said the lawsuits adduce Teva Biologic aggrandized the prices of articles to get added agreement money from Medicaid programs.

The aggregation said the accusation was brought by Ven-A-Care of the Florida Keys Inc., which has filed abundant lawsuits adjoin drugmakers over the years.

Teva said the adjustment would end the claims involving federal contributions to Medicaid programs, and claims by the three states. It said added apparel remain, but those settlements would boldness best of the declared damages. Teva denies the allegations.

Teva said "many added biologic manufacturers" are additionally called in the civilian suits, which absorb about 15 states. In morning trading, its shares fell 48 cents to $57.44.