BATON ROUGE, Louisiana — Attorney General Buddy Caldwell says 25 pharmaceutical companies and their subsidiaries will pay the state $88 million to resolve allegations they charged the state's Medicaid program too much for their drugs.
Caldwell said Wednesday that the settlement, reached earlier this week, brings the total of such agreements over three years of drug-price litigation to $238 million. It is the final settlement to be reached in the 2010 lawsuit.
However, the dollars aren't necessarily a hefty bump for the state budget.
A large slice must be returned to the federal government, since the Medicaid program is a shared cost with the state. State lawmakers also have spent settlement dollars as they came in.
What portion of the latest $88 million will be available for the state to spend wasn't immediately clear.