FTC Sues Big 3 Pharmacy Benefit Managers | PLANSPONSOR

Sep 20, 2024 · The Federal Trade Commission filed an administrative lawsuit Friday against the three largest pharmacy benefit managers—Caremark Rx, Express Scripts and Optum …

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FTC Alleges PBMs Cost Consumers $7.3 Billion Marking Up Drug …

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1 day ago · The FTC released a 60-page report Tuesday targeting the biggest three pharmacy benefit managers, claiming the companies hiked the prices of specialty drugs to generate $7.3 …

yahoo.com

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Largest Pharmacy-Benefit Managers Hiked Up Drug Prices, FTC Says

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The markups helped the pharmacy-benefit managers reap $7.3 billion from 2017 to 2022, the FTC found.

wsj.com

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

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3 hours 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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US FTC Finds Major Pharmacy Benefit Managers Inflated Drug …

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1 day ago · US FTC Finds Major Pharmacy Benefit Managers Inflated Drug Prices for $7.3 Billion Gain By Ahmed Aboulenein and Amina Niasse WASHINGTON (Reuters) -The nation's three …

usnews.com

FAQs about FTC Sues Big 3 Pharmacy Benefit Managers | PLANSPONSOR Coupon?

What is the FTC complaint against PBMs?

As discussed in previous articles by Frier Levitt, the Federal Trade Commission (“FTC”) filed an administrative complaint (“Complaint”) against the three largest Pharmacy Benefit Mangers (“PBMs”), Caremark, Express Scripts, and Optum Rx, and their affiliated Group Purchasing Organizations (“GPOs”) (collectively “Respondents”). ...

Why did the FTC sue the three PBMs?

The FTC sued the three PBMs in September, accusing them of steering diabetes patients toward higher priced insulin products in order to reap millions of dollars in rebates from drugmakers. The companies say the suit is baseless and defend their practices. ...

Did pharmacy benefit managers 'hike costs' for'speciality generic drugs'?

The antitrust regulator found the pharmacy benefit managers marked up “numerous” speciality generic drugs distributed at their groups’ own pharmacies by thousands of per cent. The companies “hiked costs for a wide range of life-saving drugs, including medications to treat heart disease and cancer”, FTC chair Lina Khan said. ...

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. ...

What is the FTC's second interim report on the healthcare industry?

This is the FTC's second interim report on the industry, which it has accused of excessive profits and contributing to higher overall healthcare costs through significant market control in the US. The PBMs are UnitedHealth Group's Optum RX (UNH), CVS's Caremark (CVS), and Cigna's Express Scripts (CI). ...

Are pharmacy benefit managers causing higher prices?

The nation's three largest pharmacy benefit managers have significantly marked up the prices of certain medicines, including for heart disease, cancer and HIV, at their affiliated pharmacies, the U.S. Federal Trade Commission said on Tuesday. ...