McKesson Corp., San Francisco, CA, has reached an agreement to settle damage claims of inflated prices on prescription drugs paid by private health-benefit plans and individuals. The company has agreed to pay $350 million. With the settlement, the drug distributor continues to deny the claims made in the lawsuit.
The terms are subject to final court approval.
The company will also record a reserve for outstanding and expected future claims by public entities, which is estimated to be $143 million.
As we have consistently stated, we believe the plaintiffs’allegations are without merit, and that McKesson adhered to all applicable laws,”said John H. Hammergren, CEO. “Yet when faced with the inherent uncertainty of this litigation, we determined …
McKesson Agrees to Settle Pricing Case for $350M
McKesson Corp., San Francisco, CA, has reached an agreement to settle damage claims of inflated prices on prescription drugs paid by private health-benefit plans and individuals. The company has agreed to pay $350 million. With the settlement, the drug distributor continues to deny the claims made in the lawsuit.
The terms are subject to final court approval.
The company will also record a reserve for outstanding and expected future claims by public entities, which is estimated to be $143 million.
As we have consistently stated, we believe the plaintiffs’allegations are without merit, and that McKesson adhered to all applicable laws,”said John H. Hammergren, CEO. “Yet when faced with the inherent uncertainty of this litigation, we determined …
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