Wednesday, August 19, 2009

Baxter Loses Medicare Reimbursement Suit

This article in Forbes discusses how a US District Court has ruled against Baxter International Inc. stating that it is not entitled to a higher Medicare reimbursement price for its hemophilia drug Advate. Baxter has previously asked Medicare to reclassify the drug so that reimbursements would increase because according to Baxter its Medicare reimbursement prices were less than the drug's sale price. Medicare's reasoning for not reclassifying the drug was that Advate was put into the "multiple drug source" category because it reached the market in the summer of 2003, about two months before the change in regulations took place.

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