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FTC Sues Prescription Drug Middlemen for Artificially Inflating Insulin Prices
Today, the Federal Trade Commission brought action against the three largest prescription drug benefit managers (PBMs)—Caremark Rx, Express Scripts (ESI), and OptumRx—and their affiliated group pur
These strategies have allowed the PBMs and GPOs to line their pockets while certain patients are forced to pay higher out-of-pocket costs for insulin medication, the FTC’s complaint alleges. Insulin list prices started rising in 2012 with the PBMs’ creation of exclusionary drug formularies, the FTC’s complaint alleges. But in the upside-down insulin market, manufacturers—driven by the Big Three PBMs’ hunger for rebates—increased list prices to provide the larger rebates and fees necessary to compete for formulary access, the FTC’s complaint alleges.
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