Ranbaxy Laboratories has settled a second dispute with the US Government in just over a year. The drugmaker will now pay the US Government $39.75 million following investigations by Texas state for the alleged inflated pricing of medicines for the State-run Medicaid programme.
"Ranbaxy believes that it fully complied with all the relevant laws. However, the company settled the matter to avoid any further distraction and uncertainty of continued litigation with the State of Texas," Ranbaxy said in a filing made with the Bombay Stock Exchange on Thursday.
Several companies which were supplying medicines to the US Government's Medicaid programme in Texas are being investigated by the State for inflated pricing for the programme, which are then reimbursed by the Government.
In September, the US Department of Justice had sent Ranbaxy a Civil Investigative Demand, asking it to furnish details of the products eligible for reimbursements by the Government.