Markets Wired

Following a public comment period, the FTC has accepted as final an order with CVS Caremark settling charges that it misrepresented the prices of certain Medicare Part D prescription drugs, including drugs used to treat breast cancer symptoms and epilepsy, at CVS and Walgreens pharmacies. The settlement bars deceptive claims related to Medicare Part D drug prices and requires CVS Caremark to pay $5 million to reimburse affected Medicare Part D consumers for the price discrepancy.

The FTC will mail redress checks to eligible consumers when records have been fully processed. Consumers do not need to take any additional action in order to receive their checks.

The Commission vote approving the final order and letters to members of the public who commented on it was 4-0-1 with Commissioner Maureen K. Ohlhausen not participating. (FTC File No. 1123210, Docket No. C-4357. Staff contacts are Meredyth Smith Andrus, 202-326-2863, and Lisa Weintraub Schifferle, 202-326-3377.)

The Federal Trade Commission works for consumers to prevent fraudulent, deceptive, and unfair business practices and to provide information to help spot, stop, and avoid them. To file a complaint in English or Spanish, visit the FTC’s online Complaint Assistant or call 1-877-FTC-HELP (1-877-382-4357). The FTC enters complaints into Consumer Sentinel, a secure, online database available to more than 2,000 civil and criminal law enforcement agencies in the U.S. and abroad. The FTC’s website provides free information on a variety of consumer topics.  Like the FTC on Facebook, follow us on Twitter, and subscribe to press releases for the latest FTC news and resources.