Bristol Myers Squibb outdoor sign
BMS is providing credits for 340B overcharges during Q3 2021 on one new NDC of its cancer drug Opdivo.

BMS Providing 340B Refunds on Cancer Drug Opdivo

Bristol Myers Squibb (BMS) is providing 340B covered entities wholesaler credits for overcharges during Q3 2021 on one new NDC of its flagship cancer drug Opdivo.

BMS posted the refund notice on the U.S. Health Resources and Services Administration (HRSA) website this week.

The company said it recalculated its provisional 340B ceiling price for the new NDC to incorporate “actual Medicaid pricing calculations for the quarter, which were not available at the time of the new NDC’s launch.”

“BMS has determined the amount owed to each affected covered entity,” the notice said. “Credits will be provided to these entities through the wholesaler accounts where the product was purchased.” The notice includes contact information for entities that believe they are due a refund but that do not get a credit through their wholesaler by March 31

Effective March 1, BMS lets hospital covered entities buy Opdivo and most of its other drugs at 340B price only through the hospital’s in-house pharmacy or only through just one contract pharmacy.

At the same time that BMS announced its 340B contract pharmacy restrictions, the New York City-based company liberalized its policy on 340B purchases of its myeloma drugs Revlimid, Pomalyst, and Thalomid.

As described in a six-part 340B Report investigation in June 2021, hospitals complained for years about the limited distribution system for the three drugs and how the system kept them from accessing 340B pricing on the expensive medicines—on Revlimid in particular, the most widely used of the three.

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