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Federal Trade Commission to sue drug middlemen over prices of medications including insulin, source says - TL;DR CNBC

Federal Trade Commission to sue drug middlemen over prices of medications including insulin, source says

Publishing timestamp: 2024-07-10 20:10:07


Summary

The Federal Trade Commission is planning to sue three large U.S. health companies, including pharmacy benefit managers like UnitedHealth Group's Optum Rx, CVS Health's Caremark, and Cigna's Express Scripts, over their practices that contribute to inflated drug prices, particularly for medications like insulin. The FTC accuses these companies of manipulating the drug supply chain to enrich themselves at the expense of smaller pharmacies and patients. The Biden administration and Congress are also increasing pressure on PBMs to increase transparency in their operations as Americans struggle to afford prescription drugs.


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Keywords: health care industrypharmaceuticalsbiotech and pharmaceuticalsbusiness newssanofi sacigna corpbiotechnologysocial issuesnovo nordisk a/sunited statesbusinessunitedhealth group incfederal trade commissionlilly drncvs health corpbreaking news: politicsregulatory agenciespolitics

Source: https://www.cnbc.com/2024/07/10/ftc-to-sue-pbms-over-drug-prices-including-insulin.html


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