McKesson Plans for $150 Million in Lawsuit Fines for Next Fiscal Year

In an earnings call last week, pharmaceutical giant McKesson Corp. said it expects to spend $150 million in 2021 on defending itself from opioid lawsuits, up from $100 million this year, Axios reports. McKesson is the sixth largest company in terms of revenue in the country, and the $150 million is a drop in the bucket relative to its $214 billion in revenue last year, but the lawsuits are adding up, with cases in West Virginia, Oklahoma, and New York in process or recently settled. States and cities are accusing many of the major drug players of knowingly sending inordinate… Full Story

North Texas Leads on Medical Marijuana and E-Cigarette Legislation

Fort Worth Republican Rep. Stephanie Klick’s bill to expand medical marijauna coverage has passed the Texas House of Representatives by a vote of 133-10, and will head to the Senate where it will be debated further. Klick’s bill was accompanied by another more expansive medical marijauna bill authored by Brownsville Democrat Rep. Eddie Lucio III, which also passed by an overwhelming majority. Currently, Texas’ Compassionate Use Act says that intractable epilepsy is the only condition that can be legally treated by cannabis with low levels of THC. Klick, a nurse, is the author of the 2015 Compassionate Use Act. But the… Full Story

Two North Texas Docs, One Nurse Sentenced to Federal Prison in Opioid Case

The healthcare professionals were sentenced to federal prison last week for illegally distributing opioids and other controlled substances in the Eastern District of Texas. After pleading guilty last October, Dr. Howard Gregg Diamond, a Sherman physician, received a 20-year sentence for conspiracy to possess with intent to distribute controlled substance and 10 more years for health care fraud. Diamond began writing fraudulent prescriptions for hydrocodone, fentanyl, oxycodone and other opiates in 2010 from his pain management offices in Sherman and Paris, Texas. In 2014, an individual died after taking morphine, oxycodone, alprazolam, and zolpidem that Gregg distributed. Court documents also show… Full Story

McKesson Corp. Saw Three Percent Revenue Growth in Fiscal Year 2019

Despite being in legal hot water in multiple states for the number of opioids McKesson Corp. sent to patients and doctors, the pharmaceutical giant reported a three percent increase for full-year fiscal 2019 revenue and two percent up from last year’s fourth quarter. The fourth quarter fiscal 2019 revenue was $52.4 billion, and the full year revenue was $214.3 billion. Shareholders received $1.9 billion due to share repurchases and dividends in fiscal year 2019. The company has a positive outlook looking forward due to a renewed pharmaceutical distribution relationship with CVS Health through 2023. McKesson’s cashflow was $4.0 billion for… Full Story

Baylor Scott and White Now Has Remote Pharmacy Kiosks

Baylor Scott and White’s pharmacy kiosks are allow patients a convenient pickup option for their prescriptions. The kiosks will be located throughout the service area in medical centers, and patients will be able to enter their information and retrieve medications quickly and conveniently. The first remote kiosk was installed in the Texas Farm Bureau Headquarters in Waco, with more to come in coming months. Any prescription can be filled and stored properly, are available within hours of visiting the pharmacy, and are available 24 hours a day. If the patient wants a pharmacy consultation, they are available via phone or… Full Story

McKesson Corp. Appoints New Human Resources Chief

McKesson Corp has appointed Tracy Faber to executive vice president and chief human resources officer, which will take effect in October. She will report to McKesson’s new CEO Brian Tyler. Faber has been with McKesson since 2011 and is currently a senior vice president of human resources for McKesson Corporate as well as their U.S. Pharmaceutical and Specialty Solutions and the Strategic Initiatives team. Faber will advise the CEO and board of directors on executive session planning, recruiting board members, diversity, inclusion, leadership development and transformational change. “We are delighted to welcome Tracy to our executive committee,” said Tyler via… Full Story

McKesson and West Virginia End Opioid Lawsuit in “Sweetheart Settlement”

Irving-based McKesson Corp. is accused of sending 100 million doses of opioids to West Virginia over a six year period, in a now-settled lawsuit in the state of West Virginia. The pharmaceutical giant will pay the state $37 million to be used for rehabilitation, job training and mental health programs, according to the New York Times. The lawsuit says that the nation’s sixth largest company by revenue, which moved to Irving from California last fall, failed to report or stop overblown opioid doses that poured into the state. The Times reports that state officials say the company sent enough hydrocodone… Full Story

UNTHSC’s New Dean of Pharmacy is Looking to Innovate

Suresh Madhavan will be the new Dean of the UNT System College of Pharmacy, and hopes to bring innovation to the role of pharmacist for students in North Texas. Arriving in the U.S. while looking for a sense of adventure, he earned his PhD from Purdue University and became a professor at West Virginia University. Madhavan thrives on mentoring young scholars, and established the nationally known PhD program in Services and Outcomes Research while at West Virginia. He has been the Professor and Chairperson of the Department of Pharmaceutical Systems and Policy at WVU since 1994. Madhavan worked with the… Full Story

McKesson Self-Reported $1.6 Million in Back Pay Errors to Federal Government

A subsidiary of Irving-based McKesson Corp. self-reported violations for 515 employees and will pay $1,650,452 in back wages and benefits for employees in Colorado and Tennessee. The issue was reported by the Department of Labor late last week. McKesson Specialty Distribution LLC, which distributes the federally funded Vaccines for Children program, reported the infraction to the Department of Labor’s Wage and Hour Division, who confirmed it. Employees working on a federal contract with the Centers for Disease Control were not paid correct overtime rates or appropriate fringe benefits. “McKesson Specialty Distribution made every effort to correct violations once they identified… Full Story

Senderra Rx is More Than a Pharmacy

The world of specialty pharmacy can be a tangled mess of prior authorization, medication adherence, and high cost medicines for patients who are often severely impacted if all the right medicine doesn’t arrive on time. Here in Dallas, Senderra Rx works to provide so much more to patients than their medicines. They created an online platform to follow patients, track their progress, keep them out of the hospital, and provide support for the patients taking the medicine and the physicians who describe them. Senderra Chairman Win Purifoy entered into the specialty pharmacy business less than a decade ago, but has… Full Story