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WASHINGTON (Dow Jones) - McKesson Corp. (MCK) on Friday disclosed that the Federal Trade Commission was investigating whether the company may have engaged, or may be engaging, in anti-competitive practices with other wholesale pharmaceutical distributors.
According to the company's annual report filed with the Securities and Exchange Commission, the FTC requested documents from McKesson in December.
The document request doesn't allege wrongdoing, the filing said.
It is part of an FTC non-public investigation to determine whether the company may have engaged, or may be engaging, in anti-competitive practices with other wholesale drug distributors in order to limit competition for provider customers seeking distribution services, the filing said.
The investigation is at an early stage, and the company said it is in the process of responding to the FTC request.
Elsewhere in its annual report, McKesson said it recently reached an agreement to settle certain claims brought on behalf of its HBOC Profit Sharing and Savings Plan for a cash payment of $18.2 million.
The settlement is subject to various conditions, including notice to the class and final approval by the court, which has scheduled a hearing on final approval of the settlement for Sept. 9.
Separate claims involving the McKesson Profit Sharing and Investment Plan and its participants aren't resolved by this settlement, the filing said.
The company's motion to dismiss those claims remains pending.
The claims brought under the Employee Retirement Income Security Act relate to the company's restatement of earnings in 1999. In January, McKesson agreed to settle a class-action shareholder lawsuit regarding the matter for $960 million .
The health-care supply management company accrued for the settlement in its third quarter ended Dec. 31 .
Also during the third quarter, McKesson established an additional reserve of $ 240 million, which the company believes will be adequate to address its remaining potential exposure with respect to all previously reported accounting litigation. That sum includes the proposed $18.2 million settlement, the filing said.
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