On March 30, a District Court in Massachusetts made a final judgment to approve a class-action setlement involving First Databank and Medi-Span, two major publishers of drug pricing information.
The two firms were found to have inflated average wholesale prices (AWP) for some 400 brand-name drugs. AWP is the primary benchmark for most PBM discounts. Under the settlement, First Databank and Medi-Span agreed to roll-back the AWP on all drugs to a uniform 120% of the wholesale acquisition cost, effective Sept. 26.
With significant contract implications (and savings!) for benefits pros to consider, you can read a detailed summary of the ruling here and see EBN's coverage on taking advantage of PBM savings as a result.
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