US FTC to File Lawsuit Against 3 Biggest Prescription Drug Middlemen Over Insulin Prices: Report
By Jace Dela Cruz
Jul 11, 2024 11:23 AM EDT
Jul 11, 2024 11:23 AM EDT
The US Federal Trade Commission (FTC) is set to file a lawsuit against UnitedHealth, Cigna, and CVS Health over their roles as intermediaries in negotiating drug prices, including insulin. A Reuters anonymous source revealed this.
(Photo : Myriams-Fotos from Pixabay)
The move comes as part of an ongoing investigation into the practices of pharmacy benefit managers (PBMs), which these companies own.
The focus is on the rebates and volume-based discounts PBMs negotiate with drug manufacturers and how these deals affect drug pricing and accessibility.
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CVS Health has stated its intention to defend itself strongly. A CVS spokesperson told Reuters that any action restricting PBM negotiation tools would benefit the pharmaceutical industry and revert the market to a less favorable state for American businesses and patients.
The FTC is also investigating drug manufacturers, targeting major insulin producers Sanofi, Novo Nordisk, and Eli Lilly. Sanofi emphasized that its pricing practices comply with legal standards and reiterated its commitment to making medicines affordable for patients.
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