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McKesson Settlement Administrator
Proposed $350 Million Class Action Settlement Regarding Drug Pricing Provides Consumers and Third-Party Payors With Money Back
May 10th, 2009
The United States District Court for the District of Massachusetts has preliminarily approved the settlement of a class action with McKesson, a large drug wholesaler. The lawsuit, called New England Carpenters Health Benefits Fund v. First DataBank, Inc., concerns the pricing of more than 450 brand-name drugs, and consumers and Third-Party Payors ("TPPs") could get money back. Prescription drugs are often priced using certain benchmarks. The most common pricing benchmark is sometimes called the Average Wholesale Price, or "AWP." AWP is often used in determining how much insurance companies will reimburse for these prescription drugs and the co-payment price that some...
Source: Pharma Investments, Ventures & Law Weekly (2009-05-10)
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