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America's Top Three Insurers Reaped $7.3 Billion From Their Drug-Middlemen's Markups, FTC Says
America's Federal Trade Commission has been "raising antitrust concerns" about them for years, reports NBC News. The latest? America's three largest drug middlemen "inflated the costs of numerous life-saving medications by billions of dollars over the past few years, the FTC said in a report Tue...
The top pharmacy benefit managers (PBMs) — CVS Health's Caremark Rx, Cigna's Express Scripts and UnitedHealth Group's OptumRx — generated roughly $7.3 billion through price hikes over about five years starting in 2017, the FTC said. The "excess" price hikes affected generic drugs used to treat heart disease, HIV and cancer, among other conditions, with some increases more than 1,000% of the national average costs of acquiring the medications, the commission said. The FTC also said these so-called Big Three health care companies — which it estimates administer 80% of all prescriptions in the U.S. — are inflating drug prices "at an alarming rate, which means there is an urgent need for policymakers to address it...."
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