CVS named in lawsuit for artificially inflated prices for generic drugs

Alleging that CVS Health, the pharmacy chain, overcharged them based on artificially inflated prices for generic drugs and concealed the true cash prices for those drugs, six Blue Cross Blue Shield insurers have filed a lawsuit.  Usually, health insurers negotiate “lesser of” contracts – meaning they pay the negotiated drug price or the cash price that uninsured patients would pay, whichever is lower; however, the insurers allege CVS offered lower cash prices on generic drugs to compete with Walmart and other low-cost pharmacies but told them those cash prices were significantly higher than they actually were.  This is not the first time CVS allegedly overcharged for generic drugs. Read article here…

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