F.T.C. Accuses Drug Middlemen of Inflating Insulin Prices
Published On Sep 20, 2024, 12:07 PM
The FTC has filed legal action against the three largest pharmacy benefit managers (PBMs) - CVS Health’s Caremark, Cigna’s Express Scripts, and UnitedHealth’s Optum Rx. The agency accuses these firms of inflating insulin prices and directing patients towards more expensive insulin options to boost their profits. They control about 80% of prescriptions in the U.S. The FTC aims to end practices that distort competition and harm consumers, potentially leading to lower drug prices across the board.