ALPMF - Eli Lilly ordered to pay $183M in whistleblower Medicaid fraud case - Bloomberg

• A jury has ordered Eli Lilly ( NYSE: LLY ) to pay $61M in a whistleblower case that accused the drugmaker of making false claims about pricing under Medicaid's drug pricing program, Bloomberg reported.
• The suit was filed in 2014 by whistleblower Ronald J. Streck who alleged Lilly ( LLY ) began retroactive price increases on its drugs, as well as neglected to pay rebates on more expensive drug prices.
• A news release from Walden Macht & Haran, the firm representing Streck, said that total judgement will be $183M since damages are trebled under the False Claims Act.
• A Lilly ( LLY ) spokesperson told the news service that the company will seek to vacate the verdict and have judgment in its favor.
• Streck has filed similar False Claims Act suits against other drugmakers, including Bristol-Myers Squibb ( BMY ) and Astellas ( OTCPK:ALPMF ) which have led to settlements. The Bristol ( BMY ) case was resolved in 2021 with a $75M settlement with the Department of Justice .

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