Anthem Hits Express Scripts With $15B Suit Over Pricing
Law360, New York (March 21, 2016, 9:54 PM EDT) -- Anthem Inc. on Monday accused Express Scripts Inc. in New York federal court of breaching their pharmacy benefit management services contract by charging inflated prices and refusing to renegotiate in good faith, causing the insurer to overpay at least $15 billion.
As part of a contractual provision to periodically review pricing, a third party hired by Anthem determined that Express Scripts’ pricing exceeded the competitive benchmark by $3 billion annually, or $13 billion over the remainder of the 10-year contract, and $1.8 billion for the post-termination transition, the suit states. Express Scripts repeatedly refused to negotiate, even as Anthem offered to...
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