Connecticut Wins $15M From Pharmaceutical Company McKesson in Drug Pricing Lawsuit

Connecticut has prevailed in a lawsuit against pharmaceutical company McKesson alleging the company inflated drugs costs of its pharmaceutical drugs to increase its market share, according to a news report by The Day.

Connecticut's Medicaid program relies on average wholesale prices reported by drug manufacturers to First DataBank, which the state uses to set reimbursement rates for pharmacies. McKesson allegedly reported inflated prices of more than 400 name-brand drugs, including Lipitor, Celebrex and Neurontin, by more than 25 percent of their usual wholesale costs, according to the report.

The settlement calls for the company to reimburse $9 million to Connecticut's Medicaid program and $3 million to ConnPace, a state program that provides drug coverage for senior citizens, according to the report.

John Figueroa, President of McKesson U.S. Pharmaceutical, Is Named Executive of the Decade by GSCLGThe Global Supply Chain Leaders Group (GSCLG) has n

The Global Supply Chain Leaders Group (GSCLG) has named John Figueroa, President of McKesson U.S. Pharmaceutical(MCK 58.20, +0.15, +0.26%), the Supply Chain Executive of the Decade.

The award is presented to the individual who received the highest aggregate ratings in making significant contributions to the advancement of the Supply Chain Management profession and maintaining sustainable, responsible business practices in its global operations during the last decade.

As the GSCLG's Executive of the Decade, Figueroa stands among other industry leaders who have made extraordinary strides in the areas of responsible corporate citizenship, involvement in social causes and creating jobs in America in a globalized economy.

Figueroa's key contributions at McKesson include promoting and supporting socially responsible business practices, driving greater efficiency in the pharmaceutical supply chain, and delivering innovative solutions that are helping to improve the management and delivery of care among key healthcare stakeholders, including national and regional retail pharmacy chains, hospital providers, retail independent pharmacies, mail pharmacy, payors and pharmaceutical manufacturers. Furthermore, through his position at McKesson, Figueroa continues to play a leadership role in addressing one of the most pressing problems in the health care industry -- patient safety. Patient safety is the sustained, proactive process of identifying, avoiding and rapidly resolving errors, omissions, mishaps and miscommunications that could affect a patient's healing, health or well-being at any point, at any time, in any care setting. It is an area in which Supply Chain methodologies can provide expertise beyond cost reductions and efficient sourcing systems. Figueroa's supply chain experience has helped McKesson continue to innovate in the area of patient care and other important healthcare initiatives.