HealthExec September 20, 2024
The Federal Trade Commission (FTC) is cracking down on the heavily consolidated pharmacy benefit manager (PBM) space for its anticompetitive practices, focusing a newly filed lawsuit on how these organizations have artificially propped up the price of insulin.
In a statement detailing the complaint, the FTC accuses CVS Health’s Caremark, Optum RX and Express Scripts of collusive business practices that rigged the “pharmaceutical supply chain competition in their favor, forcing patients to pay more for life-saving medication.”
All three organizations have parent companies that are also linked to the drug supply chain. Caremark is owned by CVS, Optum RX is a subsidiary of UnitedHealth Group, and Express Scripts is under the banner of Cigna. The FTC said these...
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