The Federal Trade Commission (FTC) is suing major pharmacy benefit managers (PBMs) for allegedly artificially inflating the price of insulin, the agency said in an announcement on Sept. 20.
Three PBMs—CVS Health’s Caremark, Cigna’s Express Scripts, and United Health Group’s Optum—”created a perverse drug rebate system that prioritizes high rebates from drug manufacturers,” the FTC said in a press release.
Some of the PBMs named by the FTC said in statements that the government’s action showed that it does not understand how drug pricing works.
Caremark said it negotiates deep discounts for its clients and helps make insulin affordable for their members….