TV News LIES

Sunday, Nov 23rd

Last update06:52:34 AM GMT

You are here News Health McKesson to pay $151M to settle drug-pricing suit

McKesson to pay $151M to settle drug-pricing suit

E-mail Print PDF

McKesson Corp.McKesson Corp. will pay $151 million to 29 states and the District of Columbia to settle a lawsuit alleging the company inflated prices of hundreds of prescription drugs, causing state Medicaid programs to overpay millions of dollars in reimbursements, officials said Friday.

The agreement with San Francisco-based McKesson, one of the country's largest drug wholesalers, settles allegations the company deliberately inflated drug prices by as much as 25 percent from 2001 to 2009.

An investigation by state and federal agencies found that McKesson overbilled for more than 1,400 brand-name drugs from 2001 to 2009. They include commonly prescribed medications such as Adderall, Allegra, Ambien, Celexa, Lipitor, Neurontin, Prevacid, Prozac and Ritalin, officials said.

California will receive about $24 million of the settlement, said state Attorney General Kamala Harris. That money will go to the state Medicaid program, not recipients.

"In these difficult budget times, it is crucial that California's scarce public resources support the urgent needs of our state," Harris said in a statement. "We cannot allow dollars meant for patients to be diverted to inflate corporate profits."

McKesson representative Kris Fortner said the claims against the company are without merit, but "given the inherent uncertainty of litigation, we determined that this settlement was in the best interest of our employees, customers, suppliers and shareholders."

More...


Most Recent Related Stories...


Federal court allows Mississippi's only abortion clinic to remain open

abortion clinic mississippiA federal appeals court said Thursday that it won’t reconsider its earlier ruling that a 2012...

Canadian couple ends up with $1M hospital bill for birth in Hawaii

Blue CrossA Canadian couple got stuck with an enormous hospital bill after their baby came nine weeks...

Dear New York City's Uninsured: Screw You, Love Governor Cuomo

Andrew CuomoBridging the gap between policy debate and real, appreciable government support, Remote Area Medical has hosted...

Eating trans fat may damage memory

transfatYet another reason to cut back on cookies: A new study shows that eating trans fat...
 
America's # 1 Enemy
Tee Shirt
& Help Support TvNewsLIES.org!
TVNL Tee Shirt
 
TVNL TOTE BAG
Conserve our Planet
& Help Support TvNewsLIES.org!
 
Get your 9/11 & Media
Deception Dollars
& Help Support TvNewsLIES.org!
 
The Loaded Deck
The First & the Best!
The Media & Bush Admin Exposed!