Saturday, February 15, 2014 6:20:03 PM
"In addition to the fine", The settlement also closes similar investigations that were being held in Colorado, New York, and Michigan", Ferrer of the DOJ said.
4 additional Distribution centers where being investigated as well as Florida and money settlements went to each state in the settlement.
We started this tread based on the 340B Gov't program, so lets not confuse the subject.
The subject was the financial Accounting for 340B Drug inventory.
as was reported in the OIG report.
There are 2 types of 340B Drug inventory models.....
1) The Pre purchasing of Drugs, model.
2) Replenishment of Drugs, model.
I'm would think that Walgreens a Major direct Drug purchaser from Manufactures was using the Pre purchasing model for its 340B prescriptions, Walgreens Co also was the Warehouse supplier to its retail stores. So the replenishment model does not make sense.
340B drug Diversion, over payment of Manufactures Rebates and patient overcharges were some of the Issues the OIG was looking at in the 340B program...
As you correctly stated, IMHO, turnover of Walgreens retail Pharmacy 340B inventory is perhaps 8 to 10 times slower than in a J.I.T system.
But the question I asked remains, will Walgreens managements record keeping Failures cause a restatement of recorded profits to the SEC, inflate GAAP inventory valuation by co-mingeling Inventory costs, and then allow smoothing of earning as the 340B drug inventory was pre-purchased or over-purchased and in stock for non 340B patients. these 340B drugs & discounts now could be cost adjusted into earnings as needed..
I worked for W.R.Grace Healthcare division and Know earnings smoothing happened, after the DOJ investigation..
So, until a follow up from Walgreens on Senator Grassley letter or inquiry this is a open issue.
Regards,
Recent WBA News
- Walgreens Receives BARDA Project NextGen Award to Conduct Novel COVID-19 Decentralized Clinical Study • Business Wire • 07/23/2024 11:00:00 AM
- Shareholders that lost money on Walgreens Boots Alliance, Inc.(WBA) Urged to Join Class Action - Contact The Gross Law Firm to Learn More • PR Newswire (US) • 07/17/2024 09:45:00 AM
- Walgreens Introduces Nice! For You to Help Customers Make Healthier Food and Beverage Choices • Business Wire • 07/16/2024 02:00:00 PM
- Alphabet Nears $23 Billion Wiz Acquisition, Trump Media Stock Soars 63% Pre-Market, and More • IH Market News • 07/15/2024 10:34:36 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 07/12/2024 08:57:23 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 07/12/2024 08:42:05 PM
- Walgreens Boots Alliance Appoints William H. Shrank, M.D., to Board of Directors • Business Wire • 07/10/2024 09:05:00 PM
- Walgreens Boots Alliance Declares Quarterly Dividend • Business Wire • 07/10/2024 08:48:00 PM
- Walgreens Strengthens Support for Children and Adults Living with Diabetes • Business Wire • 07/02/2024 03:26:00 PM
- Nike Stock Drops 14% in Pre-Market; Nokia Acquires Infinera for $2.3 Billion, and More News • IH Market News • 06/28/2024 10:50:25 AM
- Slump By Micron May Weigh On Wall Street • IH Market News • 06/27/2024 01:09:17 PM
- U.S. Futures Decline Ahead of Key Economic Events, Oil Prices Rise • IH Market News • 06/27/2024 11:06:02 AM
- Walgreens Boots Alliance Reports Fiscal 2024 Third Quarter Results • Business Wire • 06/27/2024 11:00:00 AM
- Walgreens Honors Veterans, Active-Duty Military on Independence Day • Business Wire • 06/20/2024 02:00:00 PM
- Walgreens and KFF’s Greater Than HIV Join with Community Partners to Offer Free HIV and STD Testing at Record Number of Stores on June 27 • Business Wire • 06/11/2024 01:00:00 PM
- Apple Showcases AI at WWDC 2024, Nvidia Stock Split Starts Today, and More News • IH Market News • 06/10/2024 11:29:44 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/04/2024 10:33:04 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/04/2024 10:30:46 PM
- Economic Worries May Lead To Weakness On Wall Street • IH Market News • 06/04/2024 01:10:54 PM
- Walgreens Boots Alliance Schedules Fiscal 2024 Third Quarter Earnings Announcement for June 27 • Business Wire • 06/04/2024 01:00:00 PM
- Walgreens Introduces Summer of Savings • Business Wire • 05/29/2024 01:00:00 PM
- “Walgreens En Tu Comunidad” Fosters Community in Puerto Rico with Health Fair Aimed to Increase Access and Education of Certain Health Services • Business Wire • 05/28/2024 12:00:00 PM
- OpenAI and News Corp Seal Partnership, DuPont de Nemours Announces Division, and More News • IH Market News • 05/23/2024 11:40:51 AM
- Walgreens Boots Alliance Sells Shares of Cencora for $400 Million of Proceeds • Business Wire • 05/22/2024 09:38:00 PM
- Form 13F-HR - Quarterly report filed by institutional managers, Holdings • Edgar (US Regulatory) • 05/15/2024 09:01:03 PM
Greenlite Ventures Completes Agreement with No Limit Technology • GRNL • Jul 19, 2024 10:00 AM
VAYK Expects Revenue from First Airbnb Property Starting from August • VAYK • Jul 18, 2024 9:00 AM
North Bay Resources Acquires Mt. Vernon Gold Mine, Sierra County, California, with Assays up to 4.8 oz. Au per Ton • NBRI • Jul 18, 2024 9:00 AM
Nightfood Holdings Signs Letter of Intent for All-Stock Acquisition of CarryOutSupplies.com • NGTF • Jul 17, 2024 1:00 PM
Kona Gold Beverages Reaches Out to Largest Debt Holder for Debt Purchase Negotiation • KGKG • Jul 17, 2024 9:00 AM
Avant Technologies Welcomes Back Former CEO with Eye Toward Future Growth and Expansion • AVAI • Jul 17, 2024 8:00 AM