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.
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,
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.
Big 3 PBMs reaped $7.3B from generic specialty drug markups: FTC
The Federal Trade Commission voted unanimously to release additional findings from its yearslong probe into CVS Caremark, OptumRx and Express Scripts.
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.
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 ...
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 ...
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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 ...
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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 ...
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 ...
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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 ...
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Independent pharmacies struggle with rising drug costs and PBM regulations
One Kern County Pharmacists main concern is on how Pharmacy Beneficiary Mangers are regulations make an impact on her family ...
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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.
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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 ...
The FTC Finds United Health’s OptumRX Is Engaged In Widespread Price Gouging
The Federal Trade Commision (FTC) found prescription benefits managers like UnitedHealth's OptumRX have gained $7.3B from ...