Pharmaceutical giant Pfizer will pay the state of Rhode Island $132,209 for failing to accurately report the mandated “best price” information for anti-cholesterol drug Lipitor to the state’s Medicaid program, Attorney General Patrick C. Lynch announced Friday.
As part of the settlement, Pfizer paid a total of $49 million to Medicaid programs in 47 states. The check received by Lynch’s office will go to the Rhode Island Department of Human Services, which administers the Medicaid program.
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The federal Medicaid drug-rebate stature requires that all pharmaceutical manufacturers that supply products to Medicaid recipients must provide “best price” information to the Centers for Medicare and Medicaid Services. CMS uses the information to calculate rebates payable to the state Medicaid programs under the statute.
