US Government Announces Settlement With Medco - April 27th, 2004

A $29 million settlement, between the U.S. government and 20 states was announced this week in Philadelphia.   In the settlement which has wide ranging impact, Medco agreed to now inform patients about switching of prescription drugs and other abuses.  Patients must now also be told that Medco receives compensation from pharmaceutical companies to make these switches which provide greater income for the PBM. The settlement also requires the reimbursement of patients for additional monitoring after unauthorized drug switching. 

Read the entire article by clicking here. For additional information regarding PBM litigation please visit the PBMWatch Newsroom.

 

Medco Announces Earnings - April 28th, 2004

One of the nation's largest Pharmacy Benefit Managers, Medco, announces earnings information for the first quarter.  Information concerning gross and net revenues as well as specific earnings are provided in a recent report by the Wall Street Journal.  For the entire report please click here. For additional details concerning PBM activities and litigation, please go to www.pbmwatch.org.