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The FTC sued UnitedHealth Group's Optum unit, CVS Caremark and Cigna's Express Scripts for allegedly steering diabetes patients towards higher priced insulin.
Express Scripts Holding Company is a pharmacy benefit management (PBM) organization. In 2017 it was the 22nd-largest company in the United States by total revenue as well as the largest pharmacy benefit management (PBM) organization in the United States. [2] Express Scripts had 2016 revenues of $100.752 billion. [2]
In 2017, Optum accounted for 44 percent of UnitedHealth Group's profits. [3] In 2019, Optum's revenues surpassed $100 billion for the first time, growing by 11.1% year over year, making it UnitedHealth’s fastest-growing unit at the time. [4] [5]
As of 2023, PBMs managed pharmacy benefits for 275 million Americans and the three largest PBMs in the US, CVS Caremark, Cigna Express Scripts, and UnitedHealth Group’s Optum Rx, make up about 80% of the market share covering about 270 million people [4] [5] with a market of almost $600 billion in 2024. [6]
The case accuses UnitedHealth Group Inc's Optum unit, CVS Health Corp's CVS Caremark and Cigna Corp's Express Scripts of unfairly excluding lower cost insulin products from lists of drugs covered ...
The three biggest PBMs are UnitedHealth Group Inc's Optum unit, CVS Health Corp's CVS Caremark and Express Scripts. (Reporting by Susan Heavey in Washington and Jody Godoy in New York; editing by ...
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Formed in 2011, Optum says that it provides "data and analytics, pharmacy care services, population health, healthcare delivery, and healthcare operations". [74] It is organized into three businesses: OptumHealth – provides primary and secondary care. [74] [75] OptumInsight – provides data analytics, technology, and operations services. [74]