McKesson Settles Allegations of Inflated Drug Prices With $151M

San Francisco-based McKesson has agreed to a $151 million settlement divided among 29 states and the District of Columbia to resolve allegations that it inflated prescription prices, according to a Bloomberg report.

State and federal investigators claimed McKesson inflated prices by as much as 25 percent for 1,400 brand-name drugs from 2001 to 2009. This allegedly caused Medicaid programs to pay millions of dollars more in reimbursements.

The drugmaker has denied wrongdoing. A McKesson spokesperson said the claims were without merit but determined a settlement was in the best interest of company employees, customers, suppliers and shareholders, according to the report.

More Articles on Pharmaceutical Companies and Settlements:

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