CVS Caremark agrees to settle Medicaid fraud claims
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Associated Press
Published: March 18, 2008
CHICAGO (AP) - Pharmacy chain CVS Caremark Corporation has agreed to pay almost $37 million to the federal government, 23 states including Virginia and the District of Columbia to settle claims it billed Medicaid programs for a more expensive formulation of an antacid.
The investigation began more than five years ago after a suburban Chicago pharmacist alerted authorities.
Attorneys say CVS gave Medicaid patients Ranitidine capsules instead of less expensive tablets. The drug is a generic version of the heartburn medication Zantac.
Authorities say the switch is illegal and allowed the company to charge state Medicaid programs more and reap a bigger profit.
Lawyers say CVS admits no wrongdoing in the case.
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