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Article: 11 defendants settle US AWP litigation.
- Article from:
- Pharma Marketletter
- Article date:
- March 24, 2008
CopyrightCOPYRIGHT 2008 Marketletter Publications Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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In the USA, 11 major pharmaceutical companies have agreed to a $125.0 million nationwide settlement in the average wholesale price (AWP) litigation filed in 2002 by consumers and insurance companies, which claimed the defendants intentionally inflated reports of the average wholesale prices on certain prescription drugs (Marketletters passim).
The published AWP is used to set the price that consumers making Medicare Part B co-payments and Medicare pay for the drug, as well as insurance companies and other third-party payers. The law suit contends that consumers and third-party payers paid more than they should because of the drugmakers' false AWP reporting.
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