Arkansas Governor Sarah Huckabee Sanders and Insurance Department Commissioner Alan McClain announced Tuesday notices of penalties and hearings against four major pharmacy benefit managers (PBMs), Caremark, Magellan, Express Scripts, and MedImpact.
These enforcement actions follow on the heels of a June 28, 2024, bulletin issued by the Insurance Department advising PBMs to cease paying Arkansas pharmacies below the national average drug acquisition cost (NADAC), in violation of state law. The Department is seeking a $5,000 fine for each payment made below NADAC pricing.
PBM Caremark is alleged to have committed approximately 217 violations, Magellan, 50 alleged violations, and Express Scripts, 19 alleged violations. This is the largest pharmaceutical enforcement action in Arkansas history, totaling $1.47 million in possible penalties.
Source: Office of the Governor of Arkansas
Was this article valuable?
Here are more articles you may enjoy.
Two Years in, Ortiz Steps Down as CEO of Florida Re 
One Weather Firm Warns New England Could See Big Hurricane This Season 
India’s Largest Nuclear Power Plant Hit by Data Breach 
Coca-Cola Suspends Fairlife Operations After Cyberattack 
