Medco Ponies Up to States
Some old wounds have finally healed at Medco Health (MHS Quote).
Following a two-year investigation, prosecutors from 20 states this week agreed to settle unfair-trade charges against the giant pharmacy benefit manager. The states are set to receive a total of $29.3 million -- and a pledge for improved business practices -- from the nation's largest PBM. Massachusetts has negotiated an additional settlement, pegged at $5.5 million by The Boston Globe.
The federal government has endorsed the deal, offering support for the changes to Medco's business model, but continues to pursue monetary damages of its own. U.S. Attorney Patrick Meehan, who filed a sweeping whistleblower complaint against the company last year, celebrated progress in the case on Monday. ...
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