Sunday, Mar 18th

Last update05:20:13 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."


Most Recent Related Stories...

Mississippi Legislature Passes Nation’s Strictest Abortion Ban On International Women’s Day

Mississippi Gov. Phil Bryant to sign nation's most restrictive abortion billMississippi lawmakers celebrated International Women’s Day on Thursday by passing a bill that would ban abortion...

New blood, urine tests can determine autism in children

New tests to detect autism in childrenBritish researchers believe they have developed the first blood and urine tests that can confirm autism...

Florida shooting reopens CDC gun research debate

CDC gun research debate opened up after Florida shootings A mass shooting at a Florida high school that left 17 people dead has reopened a debate in Congress...

Flu gone in a day? Japanese maker touts new drug

Flu drugs from Japan may cure in one day A single-dose pill that can halt the flu virus within a day. That's what Japanese drug maker...
America's # 1 Enemy
Tee Shirt
& Help Support!
TVNL Tee Shirt
Conserve our Planet
& Help Support!
Get your 9/11 & Media
Deception Dollars
& Help Support!
The Loaded Deck
The First & the Best!
The Media & Bush Admin Exposed!