FTC sending refunds over CVS business overcharging

(AP)—The Federal Trade Commission says it is mailing refund checks to 13,000 Medicare beneficiaries who were overcharged for drugs because a CVS Caremark Corp. business understated the price of the products.

The FTC says its redress administrator Rust Consulting Inc. began mailing the checks Tuesday. The checks are valid for 60 days from the date they were issued and they must be cashed within that time.

CVS Caremark agreed to pay $5 million in January to resolve allegations that RxAmerica understated the price of medications that treat epilepsy and symptoms of , among other drugs. CVS Caremark said RxAmerica accidentally published incorrect drug price information on a Medicare site.

The inaccurate prices appeared before CVS bought RxAmerica and appear to have ended shortly after CVS bought the company.

not rated yet
add to favorites email to friend print save as pdf

Related Stories

Recommended for you

Using computers to design drugs

Aug 22, 2014

Designing a new medicine is an expensive and time consuming business. Typically it takes around $2 billion and ten years for a new drug to move from its initial design in the lab, to the clinic. All the ...

Lilly psoriasis drug fares well in late-stage test

Aug 22, 2014

Drugmaker Eli Lilly and Co. said its potential psoriasis treatment fared better than both a fake drug and a competitor's product during late-stage testing on patients with the most common form of the skin disease.

New US restrictions on painkiller to take effect

Aug 21, 2014

The federal government is finalizing new restrictions on hundreds of medicines containing hydrocodone, the highly addictive painkiller that has grown into the most widely prescribed drug in the U.S.

User comments