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CVS Caremark Corporation
CVS announced today that it has reached a civil settlement with the
United States Department of Justice regarding its investigation into certain
business practices of a subsidiary of Longs Drug Stores Corporation which
began prior to the acquisition of Longs by CVS Caremark in October 2008.
Pursuant to the settlement agreement, RxAmerica has expressly denied any
liability.
The settlement resolves allegations that, in 2007 and 2008, Medicare Part D
paid claims related to RxAmerica's submission of inaccurate pricing data to
the Centers for Medicare & Medicaid Services ("CMS") for use in estimating
prescription drug prices on the CMS website tool, Plan Finder, for certain
generic drugs covered by a Medicare Part D Prescription Drug Plan sponsored by
RxAmerica. The settlement also resolves all allegations in a related federal
qui tam complaint filed by certain of the Part D Plan members. These RxAmerica
Plan Finder submissions were previously the subject of the CVS Caremark
consent order with the Federal Trade Commission earlier in 2012.
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