Monday, Sept. 19, 10 a.m. PDT / 1 p.m. EDT via Zoom
The United States District Court for the District of Arizona has confirmed an earlier arbitration judgment of $23 million awarded to AIDS Healthcare Foundation (AHF) against Caremark LLC, a subsidiary of the pharmacy giant CVS, for unfair reimbursement practices.
AHF will host a virtual press conference via Zoom on Monday, Sept. 19 at 10 a.m. PDT / 1 p.m. EDT. AHF President Michael Weinstein will deliver remarks on the outcome of the dispute and attorneys representing AHF in Caremark LLC v. AIDS Healthcare Foundation will be on hand to answer questions.
WHAT: |
Virtual Press Conference.
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WHEN: |
Monday, Sept. 19, 2022 at 10 a.m. PDT / 1 p.m. EDT |
WHERE: |
Attend via Zoom: https://ahf-org.zoom.us/j/81109693861 |
WHO: |
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NEWS DESK NOTE & B-ROLL VISUALS |
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MEDIA CONTACTS:
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Denys Nazarov, Senior Director of Media Relations, AHF
(323) 219-1091 | denys.nazarov@ahf.org
(323) 791-5526 | ged.kenslea@ahf.org |
Background: In November 2019, AHF filed suit with the American Arbitration Association against Caremark LLC, a pharmacy benefits manager (PBM), for breach of agreement and the covenant of good faith and fair dealing. The dispute arose from Caremark’s unfair practice of charge-backs on prescriptions filled by AHF pharmacies on behalf of insurance prescription plan sponsors such as those covering Medicare Plan D beneficiaries.
As a result of the charge-backs by Caremark, for a number of years AHF was being reimbursed less than what Part D plan sponsors received in prescription reimbursement from public Part D monies. In November 2021, the arbitrator ruled in favor of AHF and ordered Caremark to reimburse AHF nearly $23 million in damages and arbitration expenses. Subsequently, in November 2021 Caremark filed a court motion to vacate or correct the arbitration award, however on Sept. 15, 2022 the United States District Court for the District of Arizona upheld AHF’s arbitration award.
AIDS Healthcare Foundation (AHF) is a global non-profit organization providing cutting-edge medicine and advocacy to over 1.6 million people in 45 countries worldwide in the US, Africa, Latin America/Caribbean, the Asia/Pacific Region and Europe. We are currently the largest non-profit provider of HIV/AIDS medical care in the world. To learn more about AHF, please visit our website: www.aidshealth.org, find us on Facebook: www.facebook.com/aidshealth and follow us on Twitter: @aidshealthcare and Instagram: @aidshealthcare
View source version on businesswire.com: https://www.businesswire.com/news/home/20220916005573/en/
Contacts
Denys Nazarov, Senior Director of Media Relations, AHF
(323) 219-1091 | denys.nazarov@ahf.org
Ged Kenslea, Senior Director of Communications, AHF
(323) 791-5526 | ged.kenslea@ahf.org
