The state is suing 44 drug companies for allegedly defrauding Hawaii taxpayers and Medicare beneficiaries out of tens of millions of dollars with inflated prices for prescription drugs.
The lawsuit was filed yesterday in state court. It is similar to lawsuits filed by at least 20 other states in the past few years, including California, Texas, Illinois and New York.
State Attorney General Mark Bennett said the companies overstate their average wholesale prices on which the state bases its Medicaid and Medicare drug reimbursement. They then charge pharmacies, hospitals and doctors who dispense and administer the drugs at a much lower price, to give them windfall profits and incentive to continue using their drugs over those of competitors.
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