McKesson Corp.

DEFENDANT NAME: McKesson Corp.
STOCK SYMBOL: NYSE: MCK
CASE NUMBER: 08-CV-10843
COURT: U.S. District Court for the District of Massachusetts
PRACTICE AREA: Pharmaceutical Fraud
STATUS: Settled
CLASS PERIOD:
LEAD PLAINTIFF DEADLINE:
DATE FILED: 10/06/06
COURT LOCATION:

Case Settled

In late 2006, a settlement was reached with one of the defendants, First DataBank, and in 2008 McKesson agreed to a $350 million settlement for allegedly inflating the price of more than 400 prescription drugs by manipulating drug-pricing benchmarks. Hagens Berman confirmed that more than 315,000 reimbursement checks were distributed by mail to eligible cash-payor consumer class members and “pharmacy” class members.

Hagens Berman Sobol Shapiro filed a class action lawsuit against McKesson Corp., one of the nation's largest drug wholesalers. According to the suit, McKesson conspired with others to intentionally inflate drug prices to bring in higher returns. According to the complaint, this means consumers throughout the nation are paying artificially inflated prices for drug regimens prescribed by their doctors.

All suits claim McKesson and First Databank engaged in an unlawful scheme to inflate the average wholesale price (AWP) for certain drugs.


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12/31/06: Case Settled

In late 2006, a settlement was reached with one of the defendants, First DataBank, and in 2008 McKesson agreed to a $350 million settlement for allegedly inflating the price of more than 400 prescription drugs by manipulating drug-pricing benchmarks. Hagens Berman confirmed that more than 315,000 reimbursement checks were distributed by mail to eligible cash-payor consumer class members and “pharmacy” class members.