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Mon July 2, 2012
Kentucky To Recover $28M In Prescription Drug Case
FRANKFORT, Ky. -- Kentucky will recover more than $28 million from a legal settlement resolving a dispute with prescription drug maker GlaxoSmithKline.
Attorney General Jack Conway announced the settlement on Monday.
Kentucky was one of 44 states involved in the case that resulted in a $3 billion settlement to resolve a case alleging the drug company engaged in various illegal schemes in marketing and pricing the drugs it manufactures.
The settlement calls for GlaxoSmithKline to pay the states and the federal government $2 billion. Additionally, the company has agreed to pay a $1 billion criminal fine.
Of Kentucky's share, nearly $20 million will be turned over to the federal government, and $8.5 million will go the state Medicaid program.