Oklahoma will distribute more than $2.1 million to more than 900 pharmacies from a settlement with CVS Caremark over transaction fees the pharmacy benefit manager allegedly charged improperly, Attorney General Gentner Drummond and Insurance Commissioner Glen Mulready announced Oct. 30.
The Oklahoma Insurance Department reached the settlement with Caremark in 2022 over allegations that the company assessed transaction fees against pharmacies in violation of state law. The $2.1 million represents fines secured through the settlement. Restitution for the fees themselves has already gone to affected pharmacies, according to the release. The attorney general’s office will oversee distribution, contacting each eligible pharmacy using information from the Oklahoma State Board of Pharmacy and working with pharmacies to complete paperwork and payment.
The attorney general’s office said this is the third settlement with CVS Caremark, bringing the total returned to Oklahoma pharmacies to more than $7 million. In December, Drummond announced a $5 million settlement over allegations that Caremark underpaid pharmacies.
Oklahoma is not the only state pressing CVS’ PBM. Louisiana’s attorney general reached a $45 million settlement with CVS Health and its PBM in February, resolving three lawsuits over alleged regulatory and competitive misconduct, including harm to independent pharmacies. Florida’s attorney general issued a civil investigative demand to CVS and Caremark in June over patient steering and reimbursement disparities between CVS-owned and independent pharmacies, and the FTC remains in litigation against Caremark and OptumRx over specialty drug pricing. Separately, CVS agreed in October to pay $315 million to resolve Justice Department allegations over how it filled controlled substance prescriptions.
