Miami pharma exec, a big Republican donor, agrees to pay up to $50 million to settle Medicaid civil fraud charges
By Dan Christensen, FloridaBulldog.org
A Miami businessman who once justified his decision to quadruple the price of a liquid antibiotic his company sold – to more than $2,300 a bottle – by asserting a “moral requirement to sell the product at the highest price” has agreed to pay up to $50 million to settle federal Medicaid civil fraud charges.
How much Nirmal Mulye and his company, Nostrum Laboratories, ultimately will have to pay will be based on their financial condition, federal fraud prosecutors said. The minimum amount they owe in the settlement, however, is $3.825 million.
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