CVS Caremark has agreed to pay $5 million to settle Federal Trade Commission allegations that it misrepresented the prices of certain Medicare Part D prescription drugs at CVS and Walgreens pharmacies.
These allegedly deceptive claims caused many senior citizens and disabled customers to make overpayments for their drugs. In some instances, consumers were left paying as much as 10 times more than the proper price for the drugs. The alleged pricing discrepancies took place from 2007 through at least Nov. 2008.
The $5 million settlement will reimburse affected Medicare Part D consumers for the price discrepancy.
Related Articles on Pharmaceutical Fraud:
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These allegedly deceptive claims caused many senior citizens and disabled customers to make overpayments for their drugs. In some instances, consumers were left paying as much as 10 times more than the proper price for the drugs. The alleged pricing discrepancies took place from 2007 through at least Nov. 2008.
The $5 million settlement will reimburse affected Medicare Part D consumers for the price discrepancy.
Related Articles on Pharmaceutical Fraud:
GE Healthcare Pays $30 Million to Settle False Claims Allegations
Merck Agrees to Pay $24M to Massachusetts' Medicaid Program
KV Pharmaceutical to Pay $17M to Resolve False Claim Charges