FTC sues major pharmacy benefit managers over insulin prices

The Federal Trade Commission (FTC) is suing the three largest pharmacy benefit managers (PBMs) in the US, CVS’ Caremark, Cigna’s Express Scripts and UnitedHealth’s Optum Rx, alleging anticompetitive practices that inflated insulin prices. The FTC claims the companies steered patients towards more expensive insulin for larger rebates, thus resulting in higher costs for those ineligible for discounts. The three PBMs control around 80% of US prescriptions. The companies have rebutted the allegations, which they describe as based on a “profound misunderstanding” of drug pricing.