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Breaking: Justice Dept. Sues CVS Over Medicare Prescriptions

Investing.com

Investing.com - The U.S. federal government filed a lawsuit against CVS Health (NYSE:CVS) and the company’s Omnicare unit Tuesday for fraudulently billing Medicare, sending shares lower.

The Justice Department accused CVS of continuing to issue prescriptions after they had expired or the amount of refills had ended to elderly or disabled people.

CVS (NYSE:CVS) fell 1.4% after the news, while Dow component Walgreens Boots Alliance (NASDAQ:WBA) dropped 1.1%.

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