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Hi-Tech Pharmacal (HITK) Will Pay $25 Million To State Of Texas


12/27/2013 7:32:35 AM

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Hi-Tech Pharmacal Co. said Thursday it will pay $25 million to resolve allegations that it overcharged the Texas Medicaid program. The Amityville company said it has already set aside money to cover the settlement with Texas and is not acknowledging any wrongdoing or liability. In July, Hi-Tech Pharmacal said it had set aside $15.5 million to cover a potential settlement tied to an investigation by the Texas Health and Human Services Commission into the submission of price information.

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