Movers and Shakers March 30, 2011
Cd'A Allegra Network members
honored for excellence in sales
Three members of the Allegra sales team in Coeur d'Alene have recently been honored by the Allegra Network franchise system for international excellence in sales.
Allegra in Coeur d'Alene is a member of Allegra Network, one of the world's largest marketing, print and graphic communications franchises with more than 500 locations in North America.
Allegra is located at 3917 N. Schreiber Way, and has in-house printing technologies including full-color printing, short-run digital printing, variable data capabilities, color signs, posters and banners, graphic design, mailing services, promotional products, print management solutions and project consulting.
Account manager Eric McGovern earned an international gold annual sales achievement award.
Sales associate Karen Lynch and customer service representative Susan Britt were recognized for sales, receiving international silver annual sales achievement awards.
Par Pharmaceutical Cos. Inc.
to pay $1.7M in legal settlement
Prescription drug manufacturer Par Pharmaceutical Cos. Inc. has agreed to pay $1.7 million in a legal settlement resolving Idaho's claims relating to the "average wholesale prices" reported by the company, Attorney General Lawrence Wasden said.
Idaho Medicaid provides health-care services, including prescription drugs, to low-income Idahoans. By law, Idaho Medicaid must reimburse pharmacies at the "estimated acquisition cost" of the drug.
Idaho Medicaid primarily uses "average wholesale price," as reported by drug manufacturers, as a basis for determining this amount.
"Where published prices are false or misleading, the taxpayers are significantly harmed by excessive Medicaid reimbursements," Wasden said. "Misrepresenting the wholesale price is a violation of the Idaho Consumer Protection Act."
One unit of Par's pharmaceutical product Fluoxetine, a generic version of Prozac, had a published average wholesale price of $2.731 in 2003.
An investigation by Wasden's office found an actual average wholesale price of $0.081 in 2003 for Fluoxetine, a difference of 3,292 percent between the published price and the actual price.
The $1.7 million payment is intended to reimburse taxpayers for the excessive prices Idaho Medicaid paid for prescription drugs as a result of inflated average wholesale price reporting, according to Wasden's office. More than $420,000 will be deposited in the state's general fund to be appropriated by the Legislature. And $50,000 will go to the consumer protection account to reimburse the attorney general for investigative and legal costs.
More than $1 million will go to the state's Cooperative Welfare Fund and will be applied as a credit against the federal government's next payment to Idaho Medicaid.
The federal government pays for approximately 70 percent of the cost of the Idaho Medicaid program.
The settlement with Par has been submitted for approval by the Fourth District Court in Ada County. The company admitted no liability or wrongdoing.
"This settlement provides relief to Idaho taxpayers and brings the matter to a conclusion without the need for continued litigation," Wasden said. "I appreciate that the company was willing to work with my office to reach an appropriate resolution."
Since 2005, Wasden's office has resolved nine average wholesale price cases with drug manufacturers, including this settlement, resulting in the recovery of $11 million.
Three average wholesale price cases, naming approximately 20 other drug manufacturers, are still pending, Wasden's office said in a press release Tuesday.
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