March 24, 2012 |
Medco Health Solutions has agreed to pay $2.75 million and change its internal procedures to settle claims that it paid millions in bribes to win a contract to provide prescription drugs to members of the California Public Employees' Retirement System. The settlement was the latest development in a case that began in 2004 and involved allegations of dealings between the then-head of CalPERS, Federico Buenrostro Jr., and a paid Medco consultant and former CalPERS board member, Alfred J.R. Villalobos, who helped secure the $26-million contract in 2006.
November 16, 2011 |
Medications to treat mental health disorders is soaring among U.S. adults, according to data released Wednesday by Medco Health Solutions, a pharmacy benefit manager. Twenty percent of all adults said they took at least one medication to treat a mental disorder. Among women, 25% said they took such medication and 20% said they were using an antidepressant. The survey analyzed prescription drug trends among 2.5 million insured Americans from 2001 to 2010. Medco researchers also found that adults ages 20 to 44 had the greatest uptick in use of anti-anxiety medications, atypical antipsychotics and drugs to treat ADHD.
March 19, 2011 |
Drug benefits manager Medco Health Solutions Inc. said U.S. securities regulators have issued a subpoena to the company for information about its payments of $4 million to a consultant as it sought to win a multimillion-dollar contract with the California Public Employees' Retirement System. The Securities and Exchange Commission also asked Medco, which manages pharmaceutical benefits for CalPERS members, for information about other "certain current and former affiliates of both the consultant and CalPERS," the company said Friday in a filing with the agency.
March 5, 2011 |
State and federal authorities are investigating possible wrongdoing in connection with the California Public Employees' Retirement System's award of a contract to provide prescription drugs to its members, according to records and interviews. That contract was first awarded in 2006 to Medco Health Solutions Inc., the nation's biggest pharmaceutical benefits manager with $66 billion in annual sales, to administer benefits for state government workers, retirees and their families.
September 26, 2010 |
Question: As a shareholder in Medco Health Solutions Inc., I'm disappointed in its stock and wonder if things are going to get any better. Answer: Being a profitable industry leader doesn't make a healthcare company immune from competitive pressures. The nation's biggest stand-alone pharmacy benefit manager, providing drug benefits to about one-fifth of the U.S. population, is receiving a boost from the large number of patent expirations now taking place. This helps it lower prescription costs by encouraging its members to switch to less expensive drugs such as generics.
October 24, 2006 |
Medco Health Solutions Inc., the biggest manager of employee prescription drug benefits, agreed to pay $155 million to settle U.S. allegations that it accepted kickbacks from drug makers and submitted false claims to the government. The settlement resolves two civil cases and an investigation by the U.S. attorney's office in Philadelphia, the Justice Department said Monday. The government also accused the company of paying kickbacks to health plans to obtain business.