The U.S. Attorney's Office in Miami is accusing Illinois-based drugmaker Abbott Laboratories, one of the largest pharmaceutical manufacturers in the country, of inflating some prices 1,000 percent to defraud Medicare and Medicaid of $175 million. According to the complaint, Abbott inflated prices for some 40 drugs, solutions and injections when billing the government programs, and then allegedly sold the drugs to hospitals and doctors for a fraction of the inflated prices, and pocketed the difference.
May 19, 2006 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
The U.S. Attorney’s Office in Miami is accusing Illinois-based drugmaker Abbott Laboratories of inflating some pharmaceutical prices 1,000 percent to defraud Medicare and Medicaid of $175 million.
According to the complaint, which was unsealed by U.S. District Judge Alan Gold on Wednesday, Abbott inflated prices for some 40 drugs, solutions and injections, including simple sterile water. The drugmaker ratcheted up prices by as much as 10 times, or 1,000 percent.
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