FTC Initiates Lawsuit Against Major Pharmacy Benefit Managers for Inflating Drug Prices

Thursday, 11 July 2024, 12:30

The Federal Trade Commission (FTC) is filing a lawsuit against three key pharmacy benefit managers — Express Scripts, Caremark, and OptumRx — which collectively oversee 80% of prescription transactions in the United States. The complaint alleges that these entities' practices have led to significant price hikes for consumers, impacting the affordability and accessibility of vital medications. This legal action serves as a pivotal moment in addressing concerns surrounding the role of middlemen in the pharmaceutical supply chain and their impact on drug costs, aiming to bring more transparency and accountability to the industry.

Gizmodo — FTC Initiates Lawsuit Against Major Pharmacy Benefit Managers for Inflating Drug Prices

FTC Initiates Legal Action

The Federal Trade Commission (FTC) is taking significant steps to address rising concerns over the pricing practices within the pharmaceutical sector.

Key Players on the Radar

Express Scripts, Caremark, and OptumRx, the major pharmacy benefit managers in the U.S., are at the center of this legal battle.

Impacting Prescription Costs

80% of all prescriptions are handled by these entities, indirectly influencing the escalating drug prices.

This initiative aims to shed light on the opaque strategies that may contribute to inhibiting affordable healthcare for individuals.

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.