Brand Cholesterol Drug Costs Soaring
It’s “Sticker Shock” time again — This time in connection with cholesterol reducing brand drugs. Pfizer has raised the cost of its block-buster drug, Lipitor, by a staggering 25.83% over Read more…
Industry News
Control Human Growth Hormone Usage
An article in the Star Ledger reflects why it is critically important for payers to implement programs to control the usage of Human Growth Hormone. According to the story, NJ Read more…
Drug Recalls
Drug recalls represent an ongoing safety problem for patients and doctors, and an ongoing cost problem for those paying for drugs, meaning patients (who usually only pay for a small Read more…
IMS Reports $70 Billion In Potential New Generic Savings
A new IMS Health report indicates the loss of patents by top-selling brand drugs during the period 2011 to 2014 may bring $70 billion in savings to the marketplace. Among Read more…
Alabama Medicaid Initiates Acquisition Cost Reimbursement
As of September 22, 2010, the state of Alabama began reimbursing for retail pharmacy dispensed drugs based on acquisition-cost pricing. Like a small number of other payers, Alabama appears to Read more…
OIG Finds Medicaid Is Dispensing Unapproved Drugs
The federal government’s Office of Inspector General (OIG) has issued a new report concluding that only 62% of drugs paid for by Medicaid were approved by the FDA, meaning 38% Read more…
CMS Attempting To Disclose Drug Costs
The battle over drug cost disclosure is heating up. Last month, the federal government posted a RFP on its website to locate a firm capable of surveying and determining nationwide Read more…
PBMs Adding “Creative Pricing” To New Contracts
Industry sources confirm what Pharmacy Benefit Consultants always tells its clients, namely that PBMs are including “creative pricing” provisions in their contracts with clients, and thus greatly adding to client Read more…
Litigation Against Express Scripts
In 2004, Attorney General Elliot Spitzer filed a lawsuit against Express Scripts, the nation’s third largest PBM, on behalf of a New York state employee benefit plan. Spitzer alleged, among Read more…
Litigation Against Medco
In June 2004, 20 state Attorneys General resolved certain claims against Medco for approximately $30 million. The state prosecutors’ claims primarily concerned Medco’s alleged wrongful practice of switching prescriptions from Read more…
Litigation Against Caremark
For numerous years, the federal government and numerous states investigated claims of wrongdoing asserted against the PBM Caremark, and predecessor-in-interest organizations (such as AdvancePCS). In March 2008, CVS Caremark settled Read more…