Specialty Generic Drugs - Federal Trade Commission

1 day ago · that the Big 3 PBMs impose signiﬁcantmarkups on a wide array of specialty generic drugs. The FTC issues this staﬀreport in connection with our ongoing study of the PBM …

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FTC Says Top Three PBMs Made $7.3 Billion From Marked Up Drug …

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44 minutes ago · The "Big 3" pharmacy benefit managers – CVS Caremark, Express Scripts and OptumRx – mark up specialty drugs at their affiliated pharmacies by hundreds or even …

healthcarefinancenews.com

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FTC Finds PBMs Charge Significant Markups For Specialty Generics

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10 hours ago · Such significant markups allowed the Big 3 PBMs and their affiliated specialty pharmacies to generate more than $7.3 billion in revenue from dispensing drugs in excess of …

thepharmaletter.com

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New FTC Report: PBMs Mark Up Specialty Generic Drugs

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1 day ago · In the aggregate, the three largest PBMs generated an estimated $1.4 billion of income from spread pricing on the analyzed specialty generic drugs over the study period. …

managedhealthcareexecutive.com

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Top Three Insurers Reaped $7.3 Billion Through Their Drug ... - MSN

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The FTC also said these so-called “Big Three” health care companies ... specialty drugs have become for the three leading PBMs. Cancer drugs alone made up nearly half of the $7.3 …

msn.com

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FTC Says UnitedHealth, CVS, Cigna Make Billions Via PBMs On …

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4 hours ago · The Big 3 PBMs’ affiliated pharmacies generated $7.3 billion in revenue above estimated acquisition costs from 2017-2022. Plan sponsors’ spending on specialty generics …

benzinga.com

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Big 3 Pharmacy Benefit Manager Charging Enormous Markups On …

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8 hours ago · Staff’s latest report builds on a report issued by FTC staff in July 2024, which found that pharmacies affiliated with the Big 3 PBMs received 68% of the dispensing revenue …

bespacific.com

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Big 3 PBMs Reaped $7.3B From Generic Specialty Drug Markups: FTC

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1 day ago · The FTC analyzed data for 51 specialty generic drugs dispensed from 2017-2022 for patients with commercial insurance or Medicare Part D plans managed by CVS Caremark, …

modernhealthcare.com

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Second Federal Trade Commission Report On Pharmacy Benefit …

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12 hours ago · Excessive Markups: The Big 3 PBMs have marked up prices of specialty generic drugs excessively. For example, drugs that cost pharmacies $27 to acquire were sold for over …

policymed.com

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‘Big 3’ Pharmacy Benefit Managers Marked Up Drugs By $7.3B: FTC

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4 hours ago · According to a report published by the Federal Trade Commission, the “Big 3” PBMs raised prices on drugs at their affiliated pharmacies, generating $7.3 billion in added …

san.com

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FTC Doubles Down On PBM Criticism In New Report

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9 hours ago · It found that the big three PBMs received 68% of the dispensing revenue generated by specialty drugs in 2023, up from 54% in 2016, but only looked at two particular medicines in …

pharmaphorum.com

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FTC Sues Big 3 Pharmacy Benefit Managers | PLANSPONSOR

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Sep 20, 2024 · The FTC’s complaint, filed under its administrative process, not a federal court, alleges that the big three PBMs, which the FTC stated administer about 80% of all …

plansponsor.com

FAQs about Specialty Generic Drugs - Federal Trade Commission Coupon?

Did 'Big 3' PBMs increase generic drug prices?

Khan said during an FTC open commission meeting to discuss the findings on Tuesday that the five-person commission had voted unanimously in favor of issuing the report. According to the report, the “Big 3” PBMs marked up the prices of many specialty generic drugs by hundreds or thousands of percent. ...

What are the Big 3 PBMs?

The agency’s report found that the “Big 3 PBMs” – CVS Health’s (CVS) Caremark Rx, UnitedHealth’s (UNH) OptumRx, and Cigna’s (CI) Express Scripts – marked up “numerous specialty generic drugs dispensed at their affiliated pharmacies by thousands of percent, and many others by hundreds of percent.” ...

How have pharmaceutical companies benefited from the Big 3 PBMs?

Increased Concentration and Vertical Integration May Have Enabled PBMs to Lessen Competition, 1. Pharmacies affiliated with the Big 3 PBMs are often paid 20- to 40-times NADAC, and 2. Pharmacies affiliated with the Big 3 PBMs retained nearly $1.6 billion in dispensing revenue in C. ...

What if the Big 3 PBMs were standalone companies?

Today, if the Big 3 PBMs were standalone companies, each would rank among the 40 largest companies in the United States by revenue.58 Given the current level of consolidation, pharmacists, health insurers, and drug manufacturers often have little choice but to interact with the large, dominant PBMs when distributing certain drugs. Figure 4. ...

Are PBM respondents fully complied with FTC orders?

Although the FTC issued its Orders to the PBMs over two years ago, some of the PBM respondents have not yet fully complied; they have not yet completed their required submissions. The failure of certain respondents to timely produce data and documents has hindered the ability of the Commission to perform its statutory mission. ...

Should the FTC continue investigating PBMs?

Khan added that the FTC should continue investigating the PBMs and "should act swiftly to stop any illegal conduct." UNITED STATES - JULY 13: FTC Chairwoman Lina Khan prepares to testify during the House Judiciary Committee hearing titled "Oversight of the Federal Trade Commission," in Rayburn Building on Thursday, July 13, 2023. ...