Biotech Values

[DewDiligence]

CVS settles FTC suit re cheating Medicare Part D patients:

http://online.wsj.com/article/SB10001424052970204409004577156760945550798.html

The FTC alleged that from 2007 until at least November 2008, RxAmerica [acquired by CVS in Oct 2008] posted incorrect prices for certain Medicare Part D prescription drugs at CVS and Walgreens pharmacies. The actual costs of some drugs were as much as 10 times more than RxAmerica's posted rates… Because of the deceptive prices, elderly and disabled consumers chose RxAmerica drug plans and paid significantly more than they expected for their prescriptions at CVS and Walgreens, the FTC alleged. Thursday's settlement requires CVS to pay $5 million in consumer refunds.

CVS said in a statement that RxAmerica's posting of inaccurate pricing was inadvertent…

Uh huh.