Pfizer to Pay $785 Million Over False Claims Suit
Pfizer says its Wyeth subsidiary has reached an agreement to pay $785 million to resolve claims alleging that the company’s practices relating to the calculation of Medicaid rebates for its drug Protonix (pantoprazole sodium) between 2001 and 2006 violated the False Claims Act and other laws. When finalized, the agreement should resolve cases pending in Massachusetts District Court before judge Douglas P. Woodlock, Pfizer says. Under the agreement in principle, Wyeth will make a payment of $784.6 million to resolve these claims. The agreement in principle does not include an admission of liability by Wyeth, it adds.