The nation's largest drug wholesaler by revenue will pay $151 million to settle a lawsuit that alleged the company inflated prescription drug prices for state Medicaid programs.
The Wall Street Journal: McKesson To Pay $151 Million To Settle Drug-Pricing
McKesson, the nation's largest drug wholesaler by revenue, deliberately drove up the prices of some 1,400 brand-name drugs from 2001 to 2009, state and federal officials alleged in a lawsuit. Prices for some widely used blockbuster drugs, like Pfizer Inc.'s Lipitor or Eli Lilly & Co.'s Prozac, rose by as much as 25%, causing Medicaid programs to overpay by millions, state officials said (Martin, 7/27).
The Associated Press: 29 States Settle Medicaid Rx Drug Overpayment Case
California and 28 other states have reached a $151 million settlement in a lawsuit alleging one of the country's largest drug wholesalers inflated prescription drug prices, costing the states' Medicaid programs millions in overpayments. California Attorney General Kamala Harris announced the settlement with San Francisco-based McKesson Corp. on Friday. In California, Harris says the overpayments went on from 2001 through 2009 (7/27).