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US and 16 States Sue Wyeth over Medicaid Discounts

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posted on Jun, 4 2009 @ 12:26 PM
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US and 16 States Sue Wyeth over Medicaid Discounts


pharmtech.findpharma.com

In two whistleblower suits filed in May 2009, the United States and 16 states alleged that Wyeth (Madison, NJ) knowingly failed to offer the government the same discounts it gave to private purchasers of its drugs, as Medicaid laws require. The suits allege that Wyeth owes hundreds of millions of dollars in rebates to state Medicaid programs for its Protonix Oral and Protonix IV products.

The Medicaid Drug Rebate Program requires the manufacturers of branded pharmaceuticals to report the prices they charge their customers, including the “best price” offered for their drugs. Drugmakers
(visit the link for the full news article)




posted on Jun, 4 2009 @ 12:26 PM
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I tried to find other links to this news but as of now....

Surprise!! NO coverage... maybe more reports will surface in time.

I had a hunch when all the bailouts were being handed out to Wall Street and the automakers etc. that the Government would be looking to recoup that money elsewhere..

In this suit filed, it claims that Wyeth scammed the taxpayers of hundreds of millions of dollars in rebates due to medicaid programs.

I am not sure but it looks like this scheme benefitted both Wyeth and the hospitals that it had arranged for discount package deals of Protonix Oral and Protonix IV.

Someone please correct me if I am wrong in that assessment.

pharmtech.findpharma.com
(visit the link for the full news article)



posted on Jun, 4 2009 @ 12:32 PM
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If Wyeth Canada is part of the Wyeth named in the suit...

It looks like they might be trying to increase capital in case the suit is lost?


Users of Premarin drug stunned by price hike

Women who take the hormone replacement therapy drug Premarin are getting a big case of sticker shock when they renew their prescriptions these days.

That's because as of April 1, a month's supply of the medication has risen an astonishing 800 per cent, from about 14 cents a pill to about $1.24 a pill.

The price hike isn't due to any changes in the drug's formulation or packaging; it's simply a matter of supply and demand, says its manufacturer, Wyeth Canada.


800% price hike is a little shocking.. is it not?



 
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