Dismissal of federal racketeering claims

MSP Recovery, a company that specializes in recovering claims wrongly paid out by third-party Medicare Administrators, filed a lawsuit in federal court alleging that Bayer Healthcare, Johnson & Johnson, Abbott Laboratories, and Roche Diagnostics schemed with pharmacy benefit managers (PBMs) to inflate the prices paid for drugs by health plans for glucose test strips this allowed the PBMs to pocket the excess money in form of rebates. On Friday, Chief U.S. District Judge Freda Wolfson of the District of New Jersey ruled that plaintiff (MSP) lacked standing to sue under the Racketeering Influenced and Corrupt Organization Act. Read the article here…

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