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Abbott settles inflated drug price case with feds

Abbott Laboratories and two other drugmakers will pay $421 million to settle allegations that they falsely inflated product prices to gain larger government reimbursement payments, the U.S. Justice Department said Tuesday.

Abbott’s share of the settlement is $126.5 million for violations of the False Claims Act involving pricing of two antibiotics and agents used to facilitate intravenous infusions of other drugs, the Justice Department said. Get the full story »