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$350 Million Prescription Drug Case Settlement Announced Today By Spector Roseman Kodroff & Willis, PC

McKesson Corporation, one of the nation's largest drug wholesalers, announced it would pay $350 million to consumers and health insurers, who were overcharged for several hundred prescription drugs since 2001. The Philadelphia and DC law firm of Spector Roseman Kodroff & Willis, PC was co-lead counsel in the class action, representing plaintiffs including the Teamsters Health & Welfare Fund of Philadelphia Vicinity, which provides benefits to more than 24,000 area workers and their families.

Spector Roseman Kodroff & Willis partner, Jeffrey L. Kodroff, who was instrumental in developing the case and exposing the conspiracy, said, "We have spent our legal careers trying to ensure that consumers get a fair shake by affording them access to the courts to right wrong doings. When people are overcharged for products/services, like they were in this prescription drug scam, they have a right to recoup their losses. We are proud to help and are optimistic that this settlement will have a lasting impact, as we anticipate that there will be a reduction in the future cost of hundreds of drugs."

The $350 million McKesson settlement will pay back overcharges to class members, including among others the Philadelphia Federation of Teachers Health & Welfare Fund represented by co-counsel Marc Edelson of Edelson & Associates in Doylestown, PA. It provides money to both health insurers and consumers who paid for their medicines at prices based on the average wholesale price ("AWP"), a standard that is used by pharmacies and insurance companies as the basis of prescription payments. The case alleged that, starting in 2001, McKesson conspired with First Data Bank to arbitrarily increase the AWP price on hundreds of drugs by five percent at the expense of consumers and health insurers, who overpaid billions of dollars for prescription drugs.

The McKesson settlement is the second half of the resolution of this litigation. The plaintiffs had previously settled with co-defendant First Data Bank, for valuable injunctive relief. First Data Bank and Medi-Span, another publisher of drug information who was sued separately, have both agreed to pay more than $1,000,000.00 to class members, and, most importantly, to reduce the AWP price on hundreds of drugs within 90 days of the court's approval, according to Kodroff. The settlements are awaiting final approval by US District Court Judge Patti Saris in Boston.

For information about consumer fraud class action cases, call Jeffrey Kodroff at 215-496-0300 or visit http://www.srkw-law.com/.

Spector Roseman Kodroff & Willis, PC





$ 350 milioane de medicamente de caz Localitatea a anuntat Prin Spector Roseman Kodroff & Willis, PC-ul - $350 Million Prescription Drug Case Settlement Announced Today By Spector Roseman Kodroff & Willis, PC - articole medicale engleza - startsanatate