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                                                                   February 7th, 2005

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Judge Admonishes Medco On Case Documents - 02/07/05
Article from the Wall Street Journal Online

A federal judge admonished Medco Health Solutions Inc. for violating his orders to turn over documents in the company's legal battle with the Justice Department.

Medco, one of the country's largest pharmacy-benefit managers, has been "dilatory" in its disclosure of certain documents that were supposed to be turned over and "any further violations of this court's orders may result in sanctions," wrote Judge Clarence C. Newcomer of U.S. District Court for the Eastern District of Pennsylvania.

Medco, of Franklin Lakes, N.J., is one of the companies that provides the cards that patients present at their drugstores to fill prescriptions. Medco, which claims about 60 million members, also operates the largest mail-order pharmacy in the country.
Full Story...

 

Employers Unite in Effort to Curb Prescription Costs - 02/07/05
Article from the New York Times Online

 

In a new strategy to rein in prescription drug costs, a group of 30 large employers has banded together to monitor the business practices of the middlemen drug buyers that most employers use to get discounts from pharmaceutical companies.

The new group, called Rx Collaborative, to be announced today, is part of a stepped-up effort by employers across the country to cope with drug costs that have been rising 11 percent or more annually. National spending on drugs rose to an estimated total of $199 billion last year.

The companies in the group - including Eastman Chemical, Mattel, Unocal and ING Americas - are using Medco Health Solutions, the largest of a small group of pharmacy benefit managers, or P.B.M.'s, that control 75 percent of drug purchasing by employers' health plans and insurers. Full Story...


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