FTC questions prescription managers over high insulin costs
On September 20, 2024, the Federal Trade Commission (FTC) initiated a lawsuit against the three largest pharmacy benefit managers (PBMs) in the United States, alleging that their practices have led to inflated insulin prices. The implicated PBMs include CVS Health’s Caremark, Cigna’s Express Scripts, and UnitedHealth’s Optum Rx, which collectively serve 80% of the national prescription drug market. Acting on behalf of employers and various government health programs, these PBMs are responsible for negotiating drug prices, managing payments to pharmacies, and determining the availability and pricing of drugs for consumers. The FTC complaint, which is currently confidential, accuses these PBMs…
