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.
J&J to Pay $2.2B Settlement to End Risperdal Probes
Abbott to Pay $1.5B Settlement for Off-Label Marketing of Depakote
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:
Largest Healthcare Settlement in U.S. History: GlaxoSmithKline to Pay $3BJ&J to Pay $2.2B Settlement to End Risperdal Probes
Abbott to Pay $1.5B Settlement for Off-Label Marketing of Depakote