In the first publicly acknowledged state-level inquiry into the business practices of the pharmacy benefits management industry, PBM Express Scripts today said that it received a subpoena from the office of New York state Attorney General Eliot Spitzer earlier this week.
St. Louis-based Express Scripts says in a filing with the Securities and Exchange Commission that it received a subpoena June 16 that "requests information relating primarily to the company's contracts and business practices with respect to health plans organized under New York law." The company says Spitzer is looking at Express Scripts' compliance with state and federal antitrust and consumer protection statutes.
Express Scripts "believes its practices are in compliance in all material respects with applicable laws and regulations."
Company spokesperson Steve Littlejohn was not immediately available to elaborate on the four-sentence statement to the SEC.
Spitzer's office is not commenting on either the disclosure or the existence of any investigation.
Express Scripts and several competitors have been involved in a number of civil and criminal cases questioning their rebate policies, including a highly publicized investigation by federal prosecutors in Boston.