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VERSION:2.0
PRODID:icalendar-ruby
CALSCALE:GREGORIAN
X-WR-CALNAME:Attorney General Todd Rokita: Indiana Medicaid recovers $1.8 m
 illion under national settlement with Bristol-Myers Squibb Co.
X-WR-TIMEZONE:Indiana (East)
BEGIN:VEVENT
DTSTAMP:20260515T201333Z
UID:tag:localist.com\,2008:EventInstance_37765729877018
DTSTART;VALUE=DATE:20210908
DESCRIPTION:Across all divisions\, Office of Attorney General has recovered
  more than $198 million in 2021\n\nAttorney General Todd Rokita announced 
 today that Indiana Medicaid has recovered $1.8 million as part of a $75 mi
 llion national civil settlement resolving allegations that Bristol-Myers S
 quibb Co. overcharged state Medicaid programs for drugs.\n\nOf the $1.8 mi
 llion\, $746\,780 goes directly to the state\, and the remainder goes to t
 he U.S. federal government. The Medicaid program is administered jointly b
 y the federal government and the individual states.\n\n“Hoosier taxpayer
 s support the Medicaid program with faith that the funds are used to help 
 provide the health care needs of people truly needing assistance\,” Atto
 rney General Rokita said. “Whenever any company or individual overcharge
 s or otherwise defrauds the program\, we must ensure that penalties are im
 posed and restitution is made.”\n\nBristol-Myers Squibb\, a New York-bas
 ed pharmaceutical manufacturer\, settled with the states and the federal g
 overnment following an investigation arising from a whistleblower action f
 iled in the U.S. District Court for the Eastern District of Pennsylvania u
 nder the federal False Claims Act and various state false claims statutes.
 \n\nSpecifically\, these settlements resolve allegations that Bristol-Myer
 s Squibb misreported sales figures and underpaid drug rebates owed to the 
 states. Under a federal law known as the Medicaid Drug Rebate Program\, dr
 ug manufacturers must periodically return a portion of the amount paid by 
 state Medicaid programs for the manufacturers’ drugs.\n\nThe rebate prog
 ram is designed to ensure that states pay competitive prices for drugs\, a
 nd the rebates for a manufacturer’s drugs are calculated based on a perc
 entage of the average prices drug wholesalers pay for each of the drugs. E
 ach manufacturer periodically calculates and reports this average price to
  the federal government. The greater the average price reported by the man
 ufacturer\, the greater the rebate the manufacturer must pay for that drug
 .\n\nThe whistleblower’s complaint alleged that Bristol-Myers Squibb imp
 roperly treated certain fees paid to wholesalers as “discounts” and im
 properly failed to include certain “price appreciation” amounts it rec
 eived from wholesalers in its average price calculations. The effect of th
 ese accounting practices\, the whistleblower alleged\, was to falsely decr
 ease the average price the companies reported to the federal government an
 d improperly decrease the rebates paid to the states.\n\nThe claims resolv
 ed by the settlement are allegations only\; there has been no determinatio
 n of liability. \n\nA National Association of Medicaid Fraud Control Units
  (NAMFCU) Team participated in the investigation and conducted the settlem
 ent negotiations with Bristol-Myers Squibb on behalf of the states. Matthe
 w Whitmire\, Director of Attorney General Rokita’s Indiana Medicaid Frau
 d Control Unit (MFCU)\, is also president of NAMFCU.\n\nThe Indiana Medica
 id Fraud Control Unit receives 75% of its funding from the U.S. Department
  of Health and Human Services under a federal grant. The remaining 25% is 
 funded by the State of Indiana.\n\nAcross all divisions\, the Office of th
 e Attorney General has recovered more than $198 million in 2021 on behalf 
 of Hoosiers.\n\nThe settlement agreement is linked here.\n\n###
LOCATION:
SUMMARY:Attorney General Todd Rokita: Indiana Medicaid recovers $1.8 millio
 n under national settlement with Bristol-Myers Squibb Co.
URL;VALUE=URI:https://events.in.gov/event/attorney_general_todd_rokita_indi
 ana_medicaid_recovers_18_million_under_national_settlement_with_bristol-my
 ers_squibb_co
CATEGORIES:Press Releases
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END:VCALENDAR