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CVS Caremark to Pay $45 Million Settlement to Illinois Over Drug Rebates via Subsidiary Zinc

Jul 24, 2024, 10:39 AM

CVS Caremark has agreed to pay at least $45 million to the state of Illinois to settle allegations that it failed to pass drug rebates through to the state during a recent four-year period. The settlement follows an investigation by the Illinois Attorney General, which found that CVS Caremark, through its subsidiary Zinc, inappropriately pocketed drug rebates using a rebate aggregator. This settlement is expected to add to the increasing scrutiny of pharmacy benefit managers (PBMs) and their role in the pharmaceutical pricing system.