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Drug pricing system nixed by pact; Class settlement may lead to reduced prescription costs.(First DataBank Inc., McKesson Corp.)
Business Insurance, October, 2006 by Wojcik, Joanne
Byline: JOANNE WOJCIK A proposed settlement of a class action lawsuit against the nation's No. 1 provider of average wholesale prices for pharmaceuticals likely will result in pharmacy benefit managers attempting to renegotiate their contracts to preserve their profit margins, experts say.
Employers, organizations and other PBM users should not pin their hopes on lowering their drug costs in the immediate future but, if the settlement is finalized, PBM users could see more competitive drug prices going forward. The case also could lead to the end of the AWP system, observers say. The settlement, which is pending approval by Judge Patti Saris in the U.S. District Court in Boston, would require First DataBank Inc. to reduce average wholesale prices by 5%...
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