CVS Subsidiary RxAmerica Reaches $5M Settlement Over Drug Pricing

CVS subsidiary RxAmerica has reached a $5 million settlement with the United States, resolving allegations that it made false submissions related to the prices of certain generic prescription drugs.

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For Medicare Part D plans, CMS offers participants a web-based tool called Plan Finder. The tool allows beneficiaries to estimate the prices for prescription drugs under each Medicare Part D plan. CMS obtained the pricing information from each Part D plan sponsor.

The United States claimed that from January 2007 through December 2008, RxAmerica made false submissions for the prices of generic medications despite certifying that it would submit accurate pricing data for Plan Finder. The government claims RxAmerica consequentially received Medicare Part D payments for claims that covered drugs at higher prices.

More Articles on Pharmaceutical Companies and Settlements:

McKesson Settles Allegations of Inflated Drug Prices With $151M
Pfizer Nears Settlement Over Alleged Bribery
GlaxoSmithKline Settles Case Over Drug Pricing, Marketing With $3B

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