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.
Largest PBMs hiked up drug prices, FTC says
The markups helped the PBMs reap $7.3 billion from 2017 to 2022, the FTC found. The PBMs—owned by insurers Cigna, CVS Health and UnitedHealth Group—are supposed to help keep drug costs low for employers and other clients.
Pharmacy Benefits Managers Netted Extra $7.3 Billion by Inflating Drug Prices: FTC
A report published Tuesday shows hundreds and thousands of percent markups on HIV, hypertension and cancer drugs for Medicare and commercial claims alike.
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: 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 Trade Commission (FTC) uncovered in its second interim staff report rele | The FTC released its second interim staff report Tuesday during Chair Lina Khan's final open commission meeting,
FTC finds middlemen inflate specialty generic drug prices by billions of dollars
Pharmacy benefit managers, which serve as the middlemen between drug makers, insurers and pharmacies, reaped $7.3 billion in revenue from marking up the prices of dozens of specialty generic drugs between 2017 and 2022,
PBMs Generated Billions in Drug Markups, FTC Says
Major pharmacy-benefit managers generated $7.3 billion in markups on specialty drugs from pharmacies they are affiliated with, the FTC said in a new report.
PBMs made billions marking up specialty drugs by more than 1,000 percent: FTC
The Federal Trade Commission (FTC) on Tuesday released its second interim report on pharmacy benefit managers (PBM), saying the major industry middlemen generate billions in revenue through vertical integration,
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.
STAT49m
Pharmalittle: We’re reading about FTC criticizing PBMs, a NIH policy on access to medicines, and more
The FDC released a second highly critical report of PBMs, which may provide further impetus for legislative action to curb ...
Hosted on MSN21h
FTC: Three major PBMs inflated drug prices by $7.3 billion from 2017-2022
CNBC's Bertha Coombs reports on the latest news from the FTC. South Korea's impeached President Yoon Suk Yeol arrested, local ...
Benefits Pro22h
Sen. Warren brings bipartisan team back for more action against PBMs
The Massachusetts Democrat is working with a Missouri Republican, and House members from each party, to press the FTC to ...
STAT5h
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 ...
Hosted on MSN18m
'Raking in billions': Report shows drug middlemen jack up prices by nearly 8,000%
The U.S. Federal Trade Commission on Tuesday published the second part of its investigation into how prescription drug ...
ConsumerAffairs3h
Another FTC report is highly critical of pharmacy benefit managers
In the debate over the high cost of prescription drugs, pharmacy benefit managers are hotly contested. PBMs, the middlemen in ...
Fierce Healthcare1d
Industry Voices—Why the great unraveling of PBMs will accelerate in 2025
The pharmaceutical supply chain is a sector infamous for glacially slow adjustments, lackluster reform, lack of transparency ...
Snyders Pharmacy claims pressure from CVS, PBMs leads to shrinking services
Pharmacies like Snyders rely on reimbursements to make ends meet. When his business dispenses prescriptions, the repayment ...