FTC Takes Action Against Pharmacy Benefit Managers for Inflated Insulin Prices
FTC Takes Action Against Unfair Practices
The FTC has filed a lawsuit against the three largest pharmacy benefit managers (PBMs) in the United States, alleging that their practices significantly inflate the costs of insulin for patients. According to the FTC, these PBMs negotiate rebates on medications for various organizations, including insurance companies and unions. However, the inflated costs and pricing strategies have forced manufacturers to increase list prices, further burdening consumers.
Key Players Named in the Lawsuit
- Optum Rx, a subsidiary of United Health Group
- CVS Health's Caremark
- Express Scripts, owned by Cigna
The FTC emphasizes that these practices are detrimental to patients and insists on reforming the system to create fairer pricing for essential medications like insulin.
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