Express Scripts Hit With Pricing Lawsuit

(RTTNews) - Health insurer Anthem Inc. (ANTM) on Monday filed a lawsuit against pharmacy benefits manager Express Scripts Holding Co. (ESRX) over allegations that it charged higher prices for drugs.

Anthem alleges that Express Scripts charged prices higher than competitive benchmarks. Anthem also seeks to recover damages related to operational issues and also wants to terminate its contract with Express Scripts.

According to a WSJ report, an Anthem spokeswoman said that the insurer seeks approximately $15 billion through its suit, which "represents overpayments and business impact through the end of the contract and for a transition period, and more than $150 million in compensation related to operational breaches."

Meanwhile, Express Scripts has stated that Anthem's lawsuit has no merit and it has "consistently acted in good faith and in accordance with the terms" of its deal with Anthem.