ADVFN - Advanced Financial Network.
HOME» NYSE » M » MHS Stock Price » MHS Stock News

Medco Share News

 Medco Health Solutions, Inc. Stock Price
MHS Stock Price
 Medco Health Solutions, Inc. Stock Chart
MHS Stock Chart
 Medco Health Solutions, Inc. Stock News
MHS Stock News
 Medco Health Solutions, Inc. Company Information
MHS Company Information
 Medco Health Solutions, Inc. Stock Trades
MHS Stock Trades

FTC: CVS Caremark Settles Deceptive Pricing Charges, Will Pay $5 Million

By Brent Kendall Of DOW JONES NEWSWIRES WASHINGTON -(Dow Jones)- CVS Caremark Corp. (CVS) has agreed to pay $5 million to settle charges that it misrepresented prices of certain Medicare Part D prescription drugs, the Federal Trade Commission announced Thursday. The agreement comes after the FTC has spent more than two years investigating the company's business practices. In announcing Thursday's settlement, the agency also said it has closed its investigation of CVS. The FTC alleged from 2007 until at least November 2008, CVS subsidiary Rx America posted incorrect prices for certain Medicare Part D prescription drugs at CVS and Walgreens pharmacies. The actual costs of some drugs were as much as 10 times more than Rx America's posted rates, the commission said. Because of the deceptive prices, elderly and disabled consumers chose Rx America plans and paid significantly more than they expected for their drugs at CVS and Walgreens, the FTC alleged. Thursday's settlement requires CVS to pay $5 million in consumer refunds. CVS did not immediately respond to a request for comment. CVS's 2007 acquisition of Caremark, which was cleared by the FTC without a lengthy review, allowed the drugstore chain to become a major player in the market for managing pharmacy benefits. The merger, however, has been a continued source of concern for consumer groups, which have accused the company of using deceptive and anticompetitive practices to drive consumers into CVS stores. Last year, several consumer groups called on the FTC to require CVS to divest Caremark or impose significant restrictions on how the combined company operates. Thursday's announcement comes as the FTC continues to give close scrutiny to the proposed merger of two of CVS Caremark's main rivals in the pharmacy benefit management space: Express Scripts Inc. (ESRX) and Medco Health Solutions Inc. (MHS). -By Brent Kendall, Dow Jones Newswires; 202-862-9222; brent.kendall@dowjones.com

Stock News for Medco (MHS)
DateTimeHeadline
04/02/201219:28:09CORRECT: US Stocks End At Multiyear Highs On US Manufacturing...
04/02/201212:18:34CORRECT: Medco Executives Paid Max 2011 Bonuses; Express Scripts...
04/02/201212:04:59Medco Executives Paid Max 2011 Bonuses; Express Scripts More...
04/02/201210:39:10WSJ BLOG/Health: A.M. Vitals: Some States Move Forward Voluntarily...
04/02/201209:11:32Express Scripts Closes $29.1 Billion Medco Acquisition
03/30/201218:20:08US Pharmacy Groups Seek Temporary Restraining Order Vs Deal
03/29/201213:40:34Pharmacy Groups File Suit Against Express Scripts, Medco Deal
03/28/201209:47:51Express Scripts, Medco Say Deal Could Close Next Week
03/27/201214:56:14Walgreen Sees Flexibility To Keep Medco Clients If Merger Wins...
03/23/201220:04:33Medco To Pay $2.8 Million To Resolve CalPERS Payment Probe
03/19/201211:11:36Express Scripts/Medco Deal Could Face State Lawsuits -Bloomberg
03/12/201218:15:43Express Scripts, Medco Continue To Work With FTC On Deal
02/28/201211:29:17CVS Says Tailwinds Favor PBM-Retail Hybrid Business Model
02/23/201210:28:13Express Scripts Cites Smooth Transition From Walgreen
02/21/201207:22:31Medco Health 4Q Net Rises 12% As Revenue Easily Tops Estimates
02/08/201213:17:21Insurer Coventry Health Care Extends Pact With Medco By 3 Years
02/06/201214:31:04Big Grocery Chains Ask FTC To Block Medco-Express Scripts Deal...
02/06/201212:35:37February's Flurry Of Issuance Continues For High-Grade Corporates
01/27/201218:16:16Benefit Manager's Lipitor Move Highlights Pressure On Pfizer
01/12/201211:51:48FTC: CVS Caremark Settles Deceptive Pricing Charges, Will Pay...

Medco Health and other New York Stock Exchange stock quotes are delayed by at least 20 minutes.
All other stock price data is delayed by at least 15 minutes unless otherwise stated.
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2007 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations

ADVFNADVFN ItalyADVFN GermanyADVFN FranceADVFN BrazilADVFN JapanADVFN UKADVFN US noad