Connecticut has prevailed in a lawsuit against pharmaceutical company McKesson alleging the company inflated drugs costs of its pharmaceutical drugs to increase its market share, according to a news report by The Day.
Connecticut's Medicaid program relies on average wholesale prices reported by drug manufacturers to First DataBank, which the state uses to set reimbursement rates for pharmacies. McKesson allegedly reported inflated prices of more than 400 name-brand drugs, including Lipitor, Celebrex and Neurontin, by more than 25 percent of their usual wholesale costs, according to the report.
The settlement calls for the company to reimburse $9 million to Connecticut's Medicaid program and $3 million to ConnPace, a state program that provides drug coverage for senior citizens, according to the report.
Read The Day news report about McKesson's settlement.
Read other coverage about drug pricing:
- Drug Maker Sandoz Settles Drug Pricing Allegations, Agrees to Pay $1.6M to Idaho
- Pharmaceutical Company Teva Settles Drug-Pricing Lawsuits
Connecticut's Medicaid program relies on average wholesale prices reported by drug manufacturers to First DataBank, which the state uses to set reimbursement rates for pharmacies. McKesson allegedly reported inflated prices of more than 400 name-brand drugs, including Lipitor, Celebrex and Neurontin, by more than 25 percent of their usual wholesale costs, according to the report.
The settlement calls for the company to reimburse $9 million to Connecticut's Medicaid program and $3 million to ConnPace, a state program that provides drug coverage for senior citizens, according to the report.
Read The Day news report about McKesson's settlement.
Read other coverage about drug pricing:
- Drug Maker Sandoz Settles Drug Pricing Allegations, Agrees to Pay $1.6M to Idaho
- Pharmaceutical Company Teva Settles Drug-Pricing Lawsuits