August 30, 2010 | 2:55 PM |

Coakley Recovers $2.65 Million From CVS For Overpricing

FILED UNDER: Money, CVS, Martha Coakley, prescription drugs

Attorney General Martha Coakley announced an $2.65 million agreement with CVS over alleged overpricing by the national pharmacy chain, Bloomberg Businessweek reports.

An investigation found that the drug chain was overcharging public entities for prescription medications under the workers compensation program. According to a news release from Coakley’s office:

“The city of Boston will receive $60,000 in restitution, and the cities of Brockton, Lowell, Fall River, and Springfield will each receive refunds in excess of $10,000. Other cities and towns will receive lesser amounts, based on the volume of overcharges applicable to those towns. On average, the municipalities will receive approximately $4,500 each.”

About the author

Blogger, CommonHealth Rachel Zimmerman worked as a staff reporter for The Wall Street Journal for 10 years, most recently covering health and medicine out of the paper’s Boston bureau. Rachel has also written for The New York Times, the (now-defunct) Seattle Post-Intelligencer and the alternative newspaper Willamette Week, in Portland, Ore., among other publications. Rachel co-wrote a book about birth, published by Bantam/Random House, and spent 2008 as a Knight Science Journalism Fellow at MIT. Rachel lives in Cambridge with her husband and two daughters. View all posts by Rachel Zimmerman →