Summary of article from Reuters, by Jody Godoy, Mariam E Sunny:
The U.S. Federal Trade Commission (FTC) plans to sue UnitedHealth, Cigna, and CVS Health over their roles as pharmacy benefit managers (PBMs) in negotiating drug prices, including insulin, due to concerns about rebates and pricing practices. CVS has vowed to defend itself, while UnitedHealth and Cigna have not commented. The FTC is also scrutinizing insulin manufacturers Sanofi, Novo Nordisk, and Eli Lilly. This legal action follows President Biden’s Inflation Reduction Act, which capped insulin prices for Medicare recipients but not for those with private insurance or uninsured. An FTC report indicates that these PBMs, controlling 79% of U.S. prescription drug claims, have leveraged their position to benefit financially at the expense of smaller pharmacies and consumers.