Pfizer To Settle Charges That It Misled Consumers With Drug Coupon Promises
Pfizer will pay $500,000 in penalties, fees, and costs to New York, as well as more than $200,000 in restitution to consumers. The settlement comes amid ongoing controversy over the role that copay coupons play in rising health care costs
Stat:
Pfizer Pays $700,000 To Settle Charges Over Misleading Copay Coupons
In recent years, copay cards and coupons have become wildly popular with consumers who believe they can save significant sums at the pharmacy counter. But in a twist, Pfizer (PFE) has agreed to pay $700,000 to settle charges of misleading people who actually had to spend much more than expected. As part of its program, consumers were told they would “pay no more than” a small amount of money — from $15 to $25 — for certain medicines, but were actually required to pay more because of limits on total savings that were not prominently disclosed. In one instance, a woman had to pay $144.62, according to New York Attorney General Barbara Underwood. (Silverman, 10/11)
Reuters:
Pfizer Settles New York Probe Into 'Deceptive' Copay Coupons
Pfizer's coupons said consumers would "PAY NO MORE THAN" $15, $20 or $25 for Estring to treat vaginal atrophy, Quillivant XR and Quillichew ER for attention deficit hyperactivity disorder, and Flector patches for acute pain from minor injuries. New York Attorney General Barbara Underwood said this was "deceptive" because Pfizer buried limits on the total savings in the small print, and that thousands of consumers ended up paying much more. (Stempel, 10/11)
