In Lawsuit, West Virginia Blames CVS, Walmart For State’s Opioid Problem
Other pharmaceutical companies in the news include Teva, Reliance and Netmeds.
West Virginia Sues CVS, Walmart For Aiding Opioid Epidemic
West Virginia's attorney general filed lawsuits Tuesday against Walmart and CVS, alleging the companies helped create the state's devastating opioid epidemic. Patrick Morrisey, a Republican, said in separate lawsuits that the companies should remediate what has become a public health and financial crisis. (Weixel, 8/18)
DOJ Alleges Teva Used Charities To Pay Kickbacks To Medicare Patients
Federal authorities alleged that Teva Pharmaceuticals (TEVA) donated hundreds of millions of dollars to a pair of foundations, but the payments were actually kickbacks to Medicare patients and designed to cover their out-of-pocket costs for a pricey medicine. In a lawsuit filed in federal court in Boston, the Department of Justice accused the drug maker of paying hundreds of millions of dollars to the charities — the Chronic Disease Fund and The Assistance Fund — to ensure that, from 2006 through 2015, Medicare patients did not have to make a co-payment or deductible for the Copaxone multiple sclerosis drug. (Silverman, 8/18)
Reliance Buys Majority Stake In Online Pharmacy Netmeds For $83 Million
India’s Reliance Industries Ltd has bought a majority stake in online pharmacy Netmeds for 6.2 billion rupees ($83 million), facing up to Amazon.com in the competition for the country’s fast-expanding online drug market. The deal will give the oil-to-telecoms conglomerate a 60% stake in Netmeds, which sells both over-the-counter medication and more than 70,000 prescriptions drugs, Reliance said here late on Tuesday. (Ravikumar, 8/18)