CVS Pocketed Difference After Improperly Reporting Generic Drug Prices To Government, Lawsuit Claims
CVS Caremark allegedly paid pharmacies lower prices for generic drugs than what Medicare Part D plans were charged, according to the whistle blower lawsuit filed by an actuary at Aetna.
Aetna Auditor Says CVS Improperly Reported Generic Prices To Medicare
The CVS Caremark pharmacy benefit manager improperly reported generic drug prices to the federal government, causing Medicare and its beneficiaries to overpay for medicines, while pocketing a difference in pricing, according to a lawsuit filed by an actuary at the Aetna health insurer. The lawsuit revolves around complicated, behind-the-scenes contracts between pharmacy benefit managers and Medicare Part D plans, and the pricing that must be reported to the Centers for Medicare and Medicaid Services. (Silverman, 4/9)
In other news —
Dem Questions Hiring Of Former CVS Executive To Lead Drug Pricing Reform
Rep. Keith Ellison (D-Minn.) is questioning the hiring of a former CVS executive to oversee drug pricing efforts at the Department of Health and Human Services (HHS). Ellison, who is often outspoken on the issue of rising drug costs, said Dan Best's hiring poses a "potential conflict of interest" because he has worked in both the pharmaceutical and pharmacy industry. (Hellmann, 4/9)