Drug middlemen illegally drive up the cost of insulin, FTC says
CBSN
Federal regulators are accusing the country's three largest pharmacy benefit managers of illegally driving up the cost of insulin in the U.S., while making it harder for patients to obtain cheaper versions of the life-saving drug.
The companies — CVS-owned Caremark Rx, Cigna Group's Express Scripts and UnitedHealth Group's Optum Rx — acted in ways that stifled industry competition for insulin drugs, including by using unfair rebating practices, the Federal Trade Commission said Friday.
That artificially raised the list price of insulin, creating what the agency characterized as a "drug rebate system that prioritizes high rebates" from drugmakers, the FTC alleged in announcing lawsuits against the three businesses and their affiliates.
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