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CHARLESTON - Medco Health Solutions Inc., the nation's second-largest pharmacy benefits manager, is offering to pay $42.5 million to settle five classaction lawsuits in New York that accuse the company of failing to pass on to clients rebates it receives from drug manufacturers.
West Virginia has made similar complains in a suit against Medco and its parent, Merck & Co.
As the pharmacy benefits manager (PBM) for the Public Employees Insurance Agency from June 2000 to July 2001, the state alleges Medco withheld prescription drug rebates and deliberately switched consumers' prescriptions to higher-priced medications.
PEIA estimates Medco owes West Virginia about $12 million.
Assistant Attorney General Doug Davis said...