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The FTC released a 60-page report Tuesday targeting the biggest three pharmacy benefit managers, claiming the companies hiked the prices of specialty drugs to generate $7.3 billion in revenue from ...
Prior FTC inquiry. Friday’s action comes a little more than two months after the FTC published a scathing interim report on the PBM industry that followed a two-year inquiry. It detailed how ...
UnitedHealth’s OptumRx told Fortune it is still reviewing the specifics of the report, but the PBM said it helped eligible patients save $1.3 billion in costs, estimating the median out-of ...
(Reuters) -The U.S. Federal Trade Commission is planning to sue UnitedHealth, Cigna and CVS Health over their tactics as middlemen in negotiating prices for drugs including insulin, a person ...
The company offered to settle, but the FTC declined. In January 2020, Axon filed a lawsuit in the United States District Court for the District of Arizona, challenging the constitutionality of FTC's structure. The district court dismissed the case, holding that federal law stripped it of jurisdiction to consider constitutional claims against ...
The FTC found that 22 percent of specialty drugs dispensed by PBM-affiliated pharmacies were marked up by more than 1,000 percent while 41 percent were marked up between 100 and 1,000 percent.
The lawsuit asks a federal judge in St. Louis, Missouri to order the FTC to take the report down and recuse Chair Lina Khan from any actions pertaining to the company, which is owned by Cigna Corp.
FTC chair Lina Khan said in a 2022 letter to Congress that she is concerned about the impact of PBM's strategies and the market share of the three largest players now owned by some of the biggest ...