Questcor Pharmaceuticals Inc. fell the most in 20 years after insurer Aetna Inc. said it would limit coverage of the company’s top-selling drug. The drugmaker said it doesn’t expect a “material impact” from the change.
Aetna Inc., the third-largest U.S. health insurer, said its coverage policies for immune system disorders treatments from Baxter International Inc. and Grifols SA are unchanged, contrary to an analyst report that said the insurer would favor the Grifols product.
WellPoint Inc., the largest U.S. insurer by enrollment, and Aetna Inc., the third biggest, are among 11 insurers ordered to refund money to almost 600,000 New Yorkers who were charged too much for health insurance.
Aetna Inc. and 19 other companies are being urged to disclose their contributions to independent political organizations by investors including unions and state pension funds with $922 billion in assets.
The takeover of Amerigroup Corp. at the richest premium for a managed care company in 15 years is turning Medicaid insurers from Centene Corp. to Molina Healthcare Inc. into the industry’s next targets.
New York Attorney General Andrew Cuomo subpoenaed American International Group Inc. as part of a fraud investigation focusing on life insurers’ retention of death benefits, a spokesman for his office said.
Regulators in three U.S. states have started or widened examinations of how life insurers pay beneficiaries after a federal judge described MetLife Inc. ’s marketing of asset accounts as “inherently deceptive,” even as he dismissed the underlying suit against the company.