WBA - CVS in $6M deal with Massachusetts for drug overcharging claims
2023-05-17 13:49:04 ET
CVS Health Corporation ( NYSE: CVS ) has agreed to pay $6.1M to resolve allegations that the pharmacy chain did not comply with the prescription drug pricing rules related to Massachusetts' workers' compensation insurance program.
The deal identified several CVS ( CVS ) locations in Massachusetts that failed to review certain regulatory benchmarks when setting prices for prescription drugs distributed under the program.
Under the agreement announced by Massachusetts Attorney General Andrea Campbell on Monday, CVS ( CVS ) has also agreed to work with the AG's office to create procedures to prevent overcharges.
"We are pleased to resolve this matter with the Massachusetts Attorney General's Office," Becker's reported quoting a company spokesperson.
"The agreement is not an admission of liability or wrongdoing and we remain committed to complying with all laws and regulations applicable to our business."
CVS ( CVS ) is the latest company to settle with Massachusetts over failure to meet drug pricing requirements in the state's workers' compensation insurance program.
The AG's office has inked similar agreements with companies, including Express Scripts of Cigna ( CI ), OptumRx of UnitedHealth ( UNH ), and Walgreens ( WBA ), in a review that recovered over $20M so far.
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CVS in $6M deal with Massachusetts for drug overcharging claims