Terms of Medicaid Drug Suit Settlements Announced

Alabama Medicaid The state of Alabama will receive almost $35 million from settlements of 10 lawsuits accusing prescription drug companies with overcharging Alabama's Medicaid program.
by The Associated Press
Published: Wed, December 24, 2008 - 11:16 am CST Last Updated: Wed, December 24, 2008 - 11:19 am CST
MONTGOMERY, Ala. (AP) - The state of Alabama will receive almost
$35 million from settlements of 10 lawsuits accusing prescription
drug companies with overcharging Alabama's Medicaid program.
Details of the settlements were revealed by Attorney General
Troy King Tuesday.
One-fourth of that settlement will go to private attorneys. The
law firms of Hand Arendall of Mobile and Beasley Allen of
Montgomery will receive a total of about $4.8 million in attorneys
fees and $3.9 million for expenses.
A total of $10.3 million from the settlements will go into the
state's cash-strapped General Fund budget and $4.9 million to the
state Medicaid agency.
Some of the settlements had been previously announced. King said
details with two of the companies were finalized Monday.

(Copyright 2008 by The Associated Press. All Rights Reserved.)
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southfan1981
southfan1981 Says:
Wed, Dec 24, 2008 at 11:41 am

Good for Alabama. Shame on these companies for bilking us.

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