BATON ROUGE, LA (WAFB) - Louisiana has recovered millions of your tax dollars from several drug companies. It is a three year investigation the Attorney General started.
The investigation involves more than 100 pharmaceutical companies that Attorney General Buddy Caldwell says fraudulently raised prescription prices; in turn, billing Medicaid higher prices.
The state has recovered $238 million from all those companies.
Caldwell says 10 to 15 years ago, companies took advantage of Louisiana and its taxpayers by over pricing and marketing prescription drugs, then forcing Medicaid to pay for them. That means our tax dollars were going to these pharmaceutical companies.
"These Medicaid recoveries are essentially recovered tax dollars intended for those that are most vulnerable, the poor, chronically ill and disabled," Caldwell said.
Of all the companies the AG filed suit against, Caldwell says all paid the state money back. There is where they recovered the $238 million. Much of those dollars have already been appropriated – with the exception of the most recent recovery of $88 million this past Monday.
There are other state and federal programs in place that have reduced prescription costs, but Caldwell says their investigation has drastically helped in reducing the costs for you.