Major PBMs Inflated Drug Prices, Pocketing $7.3 Billion Along the Way, FTC Says
The three largest pharmacy benefit managers (PBMs) inflated the price of specialty generic drugs beyond their costs of acquisition, earning more than $7.3 billion in revenue from 2017 to 2022, according to a report issued by the Federal Trade Commission (FTC) on Tuesday.
Pharma lobby slams IRA, PBMs as Medicare lists 15 more drugs for price setting
As Medicare announced a fresh set of drugs selected for its price-setting process on Friday under the Inflation Reduction Act, industry group PhRMA criticized the landmark legislation, arguing that it has failed to regulate pharmacy benefit managers and insurers,
Troubling FTC probe reveals PBMs’ price-gouging tactics
Shocking revelations from a Federal Trade Commission, or FTC, investigation have exposed how three major prescription benefit managers, or PBMs,
PBMs reaped substantial profits from dispensing prescription drugs, FTC finds
The Federal Trade Commission published a second interim staff report this week on the prescription drug middleman industry, which
FTC: Big 3 PBMs generated $7.3B from specialty generic drug markups
CVS Caremark, Express Scripts and OptumRx dramatically mark up specialty generic drugs to affiliated pharmacies, the Federal Trade Commission (FTC) uncovered in its second interim staff report rele | The FTC released its second interim staff report Tuesday during Chair Lina Khan's final open commission meeting,
FTC says ‘Big 3 PBMs’ marked up generic drugs by thousands of percent
The Federal Trade Commission published a second interim staff report on the prescription drug middleman industry, which it says focuses on
PBMs made more than $7B marking up specialty generics: FTC
The three biggest pharmacy benefit managers made more than $7.3 billion over five years marking up the prices of specialty generic drugs for cancer and other conditions.
FTC finds top 3 PBMs inflated drug prices by $7.3B
The three PBMs inflated the drug prices dispensed at their affiliated pharmacies by hundreds and thousands of percent passing costs onto patients, employers and healthcare plans, according to a Jan. 14 news release from the agency.
FTC finds PBMs excessively marked up prices on specialty drugs
A new report issued by the Federal Trade Commission has found that prescription benefit manager units owned by CVS Health (NYSE:CVS), Cigna (CI) and UnitedHealth Group (UNH) significantly marked up prices for many specialty generic drugs over a six-year period.
MedCity News2d
Healthcare Leaders Support FTC’s Second Report on PBMs, While PBMs Criticize Findings
On Tuesday, the Federal Trade Commission released its second interim staff report on prescription drug middlemen. The report ...
New legislation aims to prevent PBMs from controlling drug pricing and pharmacy ownership
The Arkansas Pharmacists Association is calling for public and legislative support for stronger regulation of Pharmacy ...
STAT2d
Will PBM reform save pharmacies from closing?
Mattingly is an associate professor and vice chair of research in the Department of Pharmacotherapy at the University of Utah ...
Benefits Pro3d
FTC accuses big PBMs' pharmacies of collecting $5.9B in specialty drug markups
This time, the FTC focused on charges for high-cost specialty drugs at the pharmacies of the three biggest PBMS — Cigna's Express Scripts unit, the CVS Health Caremark unit and the UnitedHealth ...
Arkansas lawmakers introduce new bill aimed at removing PBM's pharmacy license
Pharmacy advocate groups are teaming up with lawmakers to get new legislation passed to stop monopolistic behaviors from ...
Fierce Healthcare4d
Industry Voices—Why the great unraveling of PBMs will accelerate in 2025
The pharmaceutical supply chain is a sector infamous for glacially slow adjustments, lackluster reform, lack of transparency ...
Benefits Pro1d
UnitedHealth's PBM will pass 100% of rebates on to clients: Will more big PBMs follow?
Andrew Witty, UnitedHealth CEO, said the move will remove an excuse other players use to blame Optum Rx for high drug costs.
More Litigation Coming? Insulin MDL Gets Boost from FTC Report
In the report, the FTC said pharmacy benefit managers (PBMs), charge significant markups for cancer, HIV, and other critical ...