20 states settle allegations with pharmacy benefits manager

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Vermont and 19 other states are getting cash in a settlement over medications. The nation’s largest pharmacy benefits manager is settling allegations by the 20 states that it was switching patients to medications to save itself money, not to benefit the patients.

The New Jersey-based Medco Health Solutions has agreed to pay more than $29 million and will be required to make a number of disclosures to doctors and patients. Authorities say the settlement resolves allegations under the states’ unfair trade practices laws and came after a two-year investigation.

Medco says that, under the settlement, there is no admission or finding of inappropriate business conduct.

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