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Market Chatter: Johnson & Johnson Sues Cigna Units Over Alleged Drug Fund Misuse
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Market Chatter: Johnson & Johnson Sues Cigna Units Over Alleged Drug Fund Misuse
Dec 16, 2024 11:26 AM

02:05 PM EST, 12/16/2024 (MT Newswires) -- Johnson & Johnson ( JNJ ) is suing Cigna's ( CI ) divisions, Express Scripts and Accredo, claiming they worked with a middleman, SaveOnSP, to misuse Johnson & Johnson's ( JNJ ) financial assistance for patients using its expensive drugs, The Wall Street Journal reported Friday.

This lawsuit expands Johnson & Johnson's ( JNJ ) 2022 case against SaveOnSP. The pharmaceutical giant alleges that Cigna's ( CI ) units and SaveOnSP caused it to pay over $100 million more in copay assistance than necessary. The company is seeking damages and a court order to stop the program, the report said.

SaveOnSP devised the scheme, which was implemented with Express Scripts and Accredo to creates profits for all three companies, Johnson & Johnson ( JNJ ) said in its amended lawsuit, according to the report. Cigna's ( CI ) spokesperson disagreed with these claims, stating that they help make drugs more affordable for patients, the report added.

Johnson & Johnson ( JNJ ), Cigna ( CI ), and SaveOnSP didn't immediately reply to MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: 145.19, Change: -1.43, Percent Change: -0.98

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