McKesson Pays $82M To End Drug Price Inflation Suit

Law360, New York (October 27, 2011, 4:33 PM EDT) -- McKesson Corp. on Wednesday agreed to pay $82 million to resolve a Massachusetts class action brought by several municipalities accusing the pharmaceutical distributor of scheming to fraudulently inflate prices of more than 400 brand-name prescription drugs, including Prozac, Lipitor, Zocor and Vioxx.

The states of Oklahoma and Montana; the cities of Baltimore, Columbia, S.C., Panama City, Fla., and Goldsboro, N.C.; Anoka County, Minn.; and the board of county commissioners of Douglas County, Kan., launched the suit in August 2008 on behalf of cities, counties and other...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.