Similar Stories to Drug Middlemen Inflate Us Prices, Squeeze Out Competition, Ftc Says on Bing News

Enlarge / Lina Khan, chair of the Federal Trade Commission (FTC), testifies before the House Appropriations Subcommittee at the Rayburn House Office Building on May 15, 2024, in Washington, DC. (credit: Getty | Kevin Dietsch) Firms that serve as intermediaries to negotiate and control prescription drug access in the US "wield enormous power," largely with "extraordinarily opaque" business practices, and may be "inflating drug costs and squeezing Main Street pharmacies" for profit, according to a searing interim report released Tuesday by the Federal Trade Commission. Amid a national focus on America's uniquely astronomical drug costs, the FTC is taking aim at firms that largely work deep in the bowels of the country's labyrinthine health care system, well hidden from public understanding and scrutiny: pharmacy benefit managers (PBMs). PBMs were initially hired by various payors—employers, health insurance companies, government health plans, and others—to manage prescription drug benefits through various plans.

BING NEWS:
  • Federal Trade Commission sues largest drug middlemen for allegedly inflating insulin prices
    The Federal Trade Commission alleges CVS Health’s Caremark Rx, Cigna’s Express Scripts and United Health Group’s OptumRx created a system that prioritizes high rebates from drug manufacturers, leading ...
    09/20/2024 - 10:42 am | View Link
  • FTC Accuses Drug Middlemen of Inflating Insulin Prices
    The Federal Trade Commission sued the drug middlemen that health plans use to keep a lid on drug spending, accusing the firms of inflating the price of insulin.The FTC on Friday filed an antitrust and ...
    09/20/2024 - 9:06 am | View Link
  • FTC sues largest drug middlemen for allegedly inflating insulin prices
    The Federal Trade Commission took action Friday against the three largest pharmacy benefit managers, accusing the companies of artificially inflating insulin list prices that resulted in patients payi ...
    09/20/2024 - 5:23 am | View Link
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