CVS To Pay $5M To End FTC's Deceptive Drug Price Claims

Law360, New York (January 12, 2012, 3:45 PM EST) -- CVS Caremark Corp. on Thursday agreed to pay $5 million to settle Federal Trade Commission allegations that it posted inaccurate prices for certain Medicare prescription drugs that caused some patients to pay significantly more for their medication than they had expected.

Under the terms of the settlement, CVS is barred from misrepresenting drug prices in the future, according to the agreement. The $5 million will be deposited into a fund that will reimburse eligible consumers who were harmed by the inaccurate prices.

"This settlement puts money...
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