The state of South Dakota will receive more than $700,000 in a settlement to be paid by a pharmaceutical company.
South Dakota is one of 43 states and the federal government who will receive part of the settlement from Bristol-Myers Squibb Co. to resolve allegations of illegal drug marketing and pricing of prescription medications by the states’ Medicaid programs.
The settlement addresses allegations that Bristol-Myers Squibb engaged in a number of improper marketing and pricing practices, including reporting inflated prices for prescription drugs and illegally paying health care providers to induce them to purchase their products, among other allegations.
The settlement reimburses the federal government and the participating states for excessive amounts paid by Medicaid programs as a result of this conduct.
The South Dakota Medicaid Fraud Control Unit and the South Dakota Department of Social Services assisted in recovering the settlement money.