The Office of the Inspector General of the Health and Human Services Departments said last week that it will begin investigating whether the Centers for Medicare & Medicaid Services properly monitors its Medicaid Drug Rebate Program. The investigation comes after CMS reported that Mylan (NSDQ:MYL) underpaid Medicaid by not paying appropriate rebates. The Canonsburg, Penn.-based company said […]
Centers for Medicare and Medicaid Services (CMS)
CMS pinpoints cost-driving drugs in newly released data
Centers for Medicare & Medicaid Services released 5 years of pricing data for a list of more than 5,000 drugs this week. The data illustrate that a handful of cost-driving drugs experienced price hikes in 2015, which cost taxpayers millions in added Medicare spending. The price of some drugs went up almost 500%, with name-brand […]
CMS acting chief Slavitt slams drug pricing
Centers for Medicare & Medicaid Services acting chief Andy Slavitt admonished pharma companies like Mylan (NSDQ:MYL) over unsustainable price increases before the Biopharma Congress in Washington D.C. last week. Mylan came under fire this year after reports showed that the Canonsburg, Penn.-based company raised the price of its emergency allergy epinephrine injector by 500% since it acquired the product in 2007 […]
EpiPen price hike cost Pentagon millions
Mylan Pharmaceuticals‘ (NSDQ:MYL) 500% price increase on its epinephrine auto-injector cost the U.S Defense Dept. millions, according to data provided to Reuters. The Pentagon spent $57 million on Mylan’s EpiPen last year, up from $9 million in 2008, largely driven by volume and price hikes that affected prescriptions filled at retail pharmacies. Although the Pentagon gets a government discount […]
Mylan settles EpiPen pricing probe with $465m
Mylan (NSDQ:MYL) last week agreed to pay $465 million to settle claims that it underpaid Medicaid for its EpiPen auto-injector by misclassifying the device as a generic. Last week, the Centers for Medicare & Medicaid Services said it spent $797 million on the emergency allergy treatment between 2011 and 2015, including rebates. The Canonsburg, Pa.-based company has […]
CMS finds Mylan overcharged Medicaid for EpiPens for years
The Centers for Medicare & Medicaid Services said this week that Mylan Pharmaceuticals (NSDQ:MYL) has been overcharging Medicaid for its EpiPen auto-injector for years, despite being warned that it should have paid bigger rebates. CMS said that between 2011 and 2015, Medicaid spent $797 million on the epinephrine auto-injector after deducting rebates, marking the 1st […]
Bard, Medtronic win Medicare reimbursement add-on for DCBs
Medtronic (NYSE:MDT) and C.R. Bard (NYSE:BCR) said today that angioplasty treatments with drug-coated balloons will now be eligible for new technology add-on payments through the Centers for Medicare and Medicaid Services under Medicare’s hospital impatient prospective payment systems. The add-on payment, with a maximum of $1,036, will help cover additional costs for treating patients for peripheral artery disease with […]