LD The Federal Trade Commission (FTC) is planning to file lawsuits against the three largest pharmacy-benefit managers ((PBMs)) in the U.S. over their role in price negotiations for drugs, including insulin, The Wall Street Journal reported Wednesday.
Specifically, the planned lawsuits focus on drug rebates that PBMs negotiate with drug manufacturers, according to a person familiar with the matter. The proposed lawsuits follow a two-year investigation into whether the companies drive patients away from cheaper medicines as they interact with drugmakers on behalf of their customers. The report comes as PBMs continue to face intense regulatory scrutiny over their role in soaring drug prices.
On Tuesday, as part of an ongoing investigation into PBMs launched in 2022, the FTC issued a report detailing how they profit at the expense of patients and independent pharmacies. The report said that the three largest PBMs, namely OptumRx, Caremark, and Express Scripts, run by UnitedHealth ( NYSE: UNH ), CVS Health ( NYSE: CVS ), and Cigna ( NYSE: CI ), processed nearly 80% of total prescriptions dispensed by U.S.
pharmacies in 2023. More on Cigna, CVS Health, etc. CVS Health: A Better Investment Than Walgreens Boots Alliance UnitedHealth Group: The Perfect Portfolio Balancer CVS Health: Good Buy Vs.
Goodbye Leading PBMs to face congressional hearing on July 23: Axios Pharma middlemen benefit at the expense of patients: FTC.
