Monthly Archives: July 2012

CONCORD Attorney General Michael A. Delaney said Friday that New Hampshire will receive $1.7 million from a national settlement with a major drug company whose wholesale drug pricing caused the states Medicaid program to overpay for a large number of prescription drugs betweeen late 2001 and March 2005. New Hampshire is one of 30 states that will share in the settlement with McKesson Corp. The national settlement resolved allegations that McKesson violated the Federal False Claims Act and various state false claims acts, by reporting inflated pricing data for a large number of prescription drugs. As a result of the inflated pricing data reported, New Hampshires Medicaid program overpaid for the drugs during that period. Medicaid is funded jointly by the federal government and New Hampshire. In April, the federal government settled the federal portion of this lawsuit for more than $187 million; this agreement recovers the state Medicaid share for New Hampshire. The drug pricing data at issue in this settlement concerns the Average Wholesale Price (AWP) benchmark used by most states, including New Hampshire, to set pharmacy reimbursement rates for pharmaceuticals dispensed to state Medicaid beneficiaries. The state and federal governments alleged that McKesson, one of the largest … Continue reading →

MEXICO CITY--(Marketwire -07/27/12)- Grupo Casa Saba (SAB) Financial Highlights: All figures are expressed in millions of Mexican pesos. Comparisons are made with the same period of 2011, unless otherwise stated. Figures may vary slightly due to rounding). Grupo Casa Saba (SAB) ("Saba," "GCS," "the Company" or "the Group"), one of the leading Mexican distributors of pharmaceutical products as well as health, beauty aids and consumer goods and publication, and one of the most important pharmacy chains in Latin America, announces its consolidated financial and operating results for the second quarter of 2012. QUARTERLY EARNINGS In the second quarter of 2012, Saba faced close competition in the distribution and marketing of pharmaceutical products, health and beauty aids, and consumer goods in Mexico as well as in the other Latin America countries in which we operate. Our operating strategy maintained emphasis on improving efficiency levels and controlling logistic costs and expenses, generating positive results in practically all our divisions. At the sales level, we focused on improving the availability of the most in demand products for our clients in wholesale and in our pharma network, as well as improving the care and service of our stock sales. In regards to growth, opening … Continue reading →

By Kristin Jones McKesson Corp. (MCK) has agreed to pay California and 29 other states a total of $151 million to settle allegations that it inflated prescription drug prices, causing states' Medicaid programs to overpay pharmacy reimbursements by millions of dollars, according to the California Department of Justice. The payment is in addition to an April settlement that had McKesson paying more than $190 million to the federal government to resolve similar claims. McKesson wasn't immediately available to comment, but has previously said that it didn't violate any laws or manipulate drug prices. The states alleged that the drug wholesaler deliberately inflated average wholesale drug prices it reported to First Data Bank, a publisher of drug prices, by as much as 25%. McKesson's actions caused the state of California to overpay on branded prescription drugs from August 2001 through December 2009. California'sMedicaid program, known as Medi-Cal, sets the reimbursement rates for pharmacies based on reported wholesale drug prices. California's recovery of the settlement is roughly $23.6 million. Along with the District of Columbia, the other 29 states involved in the settlement include New York, Illinois, and Pennsylvania. McKesson has continued to see strong performance in its U.S. distribution business. It … Continue reading →

McKesson Corp. (MCK) has agreed to pay California and 29 other states a total of $151 million to settle allegations that it inflated prescription drug prices, causing states' Medicaid programs to overpay pharmacy reimbursements by millions of dollars, according to the California Department of Justice. The payment is in addition to an April settlement that had McKesson paying more than $190 million to the federal government to resolve similar claims. McKesson wasn't immediately available to comment, but has previously said that it didn't violate any laws or manipulate drug prices. The states alleged that the drug wholesaler deliberately inflated average wholesale drug prices it reported to First Data Bank, a publisher of drug prices, by as much as 25%. McKesson's actions caused the state of California to overpay on branded prescription drugs from August 2001 through December 2009. California'sMedicaid program, known as Medi-Cal, sets the reimbursement rates for pharmacies based on reported wholesale drug prices. California's recovery of the settlement is roughly $23.6 million. Along with the District of Columbia, the other 29 states involved in the settlement include New York, Illinois, and Pennsylvania. McKesson has continued to see strong performance in its U.S. distribution business. It recently reported that … Continue reading →