AXIOS July 11, 2024
The Federal Trade Commission plans to sue the three biggest prescription drug middlemen for allegedly using negotiating tactics to steer patients to use more expensive drugs, including insulins, according to a source familiar with the matter.
Why it matters: The planned suit, first reported by the Wall Street Journal, would follow a two-year FTC investigation that found pharmacy benefit managers use their dominance over the drug supply chain to hike prices and boost profits.
The FTC’s case would target the three biggest PBMs — CVS Caremark, Express Scripts and OptumRx.
- Those PBMs manage about 80% of prescriptions and are integrated with the health insurers Aetna, Cigna and United Healthcare, respectively.
- The agency is also investigating drug manufacturers, although it...
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