CVS to Pay US$5 Million in Reimbursement Over Deceptive Pricing

The US Federal Trade Commission (FTC) has announced that CVS Caremark Corporation (CVS) has agreed to settle claims of deceptive pricing relating to some prescription drugs and will pay US$5 million in reimbursements to seniors and disabled customers to whom it allegedly “misrepresented the prices of certain Medicare Part D prescription drugs”. According to the FTC, the deceptive pricing resulted in consumers paying “significantly more for their drugs than they expected” and led them to fall within “the coverage gap where none of their drug costs are reimbursed”.
FTC’s media release (12 January 2012)
(Source: FTC)