Major PBMs Inflated Drug Prices, Pocketing $7.3 Billion Along the Way, FTC Says
The three largest pharmacy benefit managers (PBMs) inflated the price of specialty generic drugs beyond their costs of acquisition, earning more than $7.3 billion in revenue from 2017 to 2022, according to a report issued by the Federal Trade Commission (FTC) on Tuesday.
FTC: Three major PBMs inflated drug prices by $7.3 billion from 2017-2022
Traveling over our heads at hypersonic speeds beyond Mach 7, lies the future of spy plane technology. It can be anywhere in the world in one hour, enter any country unnoticed, and be out before their jets can even get into the sky. CNBC's Bertha Coombs reports on the latest news from the FTC.
FTC: Big 3 PBMs generated $7.3B from specialty generic drug markups
CVS Caremark, Express Scripts and OptumRx dramatically mark up specialty generic drugs to affiliated pharmacies, the Federal Trade Commission (FTC) uncovered in its second interim staff report rele | The FTC released its second interim staff report Tuesday during Chair Lina Khan's final open commission meeting,
FTC finds middlemen inflate specialty generic drug prices by billions of dollars
Pharmacy benefit managers, which serve as the middlemen between drug makers, insurers and pharmacies, reaped $7.3 billion in revenue from marking up the prices of dozens of specialty generic drugs between 2017 and 2022,
FTC takes fresh swipe at drug middlemen, says some prices marked up over 1,000%
The drug middlemen known as pharmacy-benefit managers took another body blow from regulators on Tuesday, as they were criticized for charging way more for some “critical” prescription drugs than it cost them.
FTC says ‘Big 3 PBMs’ marked up generic drugs by thousands of percent
The Federal Trade Commission published a second interim staff report on the prescription drug middleman industry, which it says focuses on
MedCity News1d
Healthcare Leaders Support FTC’s Second Report on PBMs, While PBMs Criticize Findings
On Tuesday, the Federal Trade Commission released its second interim staff report on prescription drug middlemen. The report ...
New legislation aims to prevent PBMs from controlling drug pricing and pharmacy ownership
The Arkansas Pharmacists Association is calling for public and legislative support for stronger regulation of Pharmacy ...
Arkansas lawmakers introduce new bill aimed at removing PBM's pharmacy license
Pharmacy advocate groups are teaming up with lawmakers to get new legislation passed to stop monopolistic behaviors from ...
Benefits Pro19h
UnitedHealth's PBM will pass 100% of rebates on to clients: Will more big PBMs follow?
Andrew Witty, UnitedHealth CEO, said the move will remove an excuse other players use to blame Optum Rx for high drug costs.
KERO-TV1h
Independent pharmacies struggle with rising drug costs and PBM regulations
One Kern County Pharmacists main concern is on how Pharmacy Beneficiary Mangers are regulations make an impact on her family ...
STAT2d
Will PBM reform save pharmacies from closing?
Mattingly is an associate professor and vice chair of research in the Department of Pharmacotherapy at the University of Utah ...
Michigan Advance3h
Regulator accuses drug middlemen of wild price hikes, possibly steering business to themselves
The Federal Trade Commission on Tuesday released an interim report saying that powerful drug middlemen marked up drugs for ...
Benefits Pro2d
Sen. Warren brings bipartisan team back for more action against PBMs
The Massachusetts Democrat is working with a Missouri Republican, and House members from each party, to press the FTC to ...
Fierce Healthcare3d
Industry Voices—Why the great unraveling of PBMs will accelerate in 2025
The pharmaceutical supply chain is a sector infamous for glacially slow adjustments, lackluster reform, lack of transparency ...
KLBK Lubbock on MSN12h
FTC report highlights prescription drug pricing issues in Lubbock
Prescription drug prices are rising, and a new report from the Federal Trade Commission (FTC) explains why. Pharmacy benefit ...