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The settlement required First DataBank (FDB) to reduce the AWP mark-up from 1.25 to 1.20 times the Wholesale Acquisition Cost (WAC) for 1,442 NDCs identified in the litigation. FDB set the mark-up at 1.20 for all drugs independent of the litigation on September 26, 2009. The roll back of the WAC-to-AWP spread led to a 4% reduction in their AWP.
In the United States, the average wholesale price (AWP) is a prescription drug term referring to the average price for medications offered at the wholesale level. [1] The metric was originally intended to convey real pricing information to third-party payers, including government prescription drug programs.
Adjusted world price (AWP) is statutory terminology used in United States federal agricultural law, for the prevailing world price for upland cotton or rice.It is adjusted to account for U.S. quality and location, calculated and published on a weekly basis by the USDA as part of marketing assistance loan programs.
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Clover was acquired on December 28, 2012, by First Data Corporation, [2] which itself was acquired by Fiserv, the world's largest merchant acquirer, [3] on July 29, 2019. [4] Bank of America Merchant Services was the first to announce it would sell Clover to its merchant base in October 2013.
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