Medisca Statement on Settlement With Department of Justice

PLATTSBURGH, N.Y.--(BUSINESS WIRE)-- Medisca Inc. has reached an agreement with the United States Department of Justice (DOJ) to resolve and terminate a civil investigation that began 9 years ago. The allegations made by the DOJ relate to the accuracy of the company’s disclosure of average wholesale prices (AWPs) for certain pharmaceutical ingredients from January 2012 to May 2015, and the reimbursement by the TRICARE program of pharmacies that purchased these ingredients at a price lower than the published AWPs.

The practices that were the focus of the DOJ investigation have been obsolete for several years, since Medisca Inc. no longer provides AWPs to pricing listing agencies, and TRICARE has not used AWPs as the basis to reimburse pharmacies for prescription claims since 2016.

This matter was an investigation only, and its resolution involves no admission by Medisca Inc. nor findings of any wrongdoing whatsoever. This settlement resolves the matter without the business uncertainty, additional cost, and distraction of any possible conversion of the investigation into a formal complaint, legal proceeding or protracted litigation in the future.

Consequently, Medisca Inc. is pleased to be able to fully focus their attention and resources on the strategic growth of the company, including the company’s vision to continually empower personalized wellness for all by bridging the gaps in healthcare across the globe.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241101949692/en/

For more information, Medisca welcomes you to contact:

Mitchell Rubin
Chief Financial Officer
1-800-932-1039
[email protected]

Source: Medisca Inc.

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