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The Enron of prescription drugs

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formercia Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Oct-09-06 08:05 AM
Original message
The Enron of prescription drugs
and why drug costs are soaring:

http://seattlepi.nwsource.com/business/287864_drugsettl...

Proposed settlement would save health plans $4 billion
Company agrees to stop publishing wholesale prices of medicine

By THERESA AGOVINO
THE ASSOCIATED PRESS

NEW YORK -- A publisher of prescription drug prices has agreed to eventually stop publishing its controversial list of wholesale medicine prices, which numerous critics have blamed for driving up drug costs, as part of a settlement that alleged that it had conspired to increase markups.

The plaintiffs said the settlement, which was filed in U.S. District Court in Massachusetts late Thursday and still needs a judge's approval, will save health plans $4 billion.

In a statement, the publisher, First DataBank, said that it did nothing wrong and that it is not paying any damages to the plaintiffs in the case.

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mom cat Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Oct-09-06 09:29 AM
Response to Original message
1. And the repukes believe in free trade. ... right!
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