Credit: Towfiqu Barbhuiya/Adobe StockHealth Care Giants Sue FTC, Allege Lina Khan Using Loaded Process to Vilify Pharmacy Benefit Managers
CVS, Cigna and UnitedHealth are firing back at the FTC in the wake of an administrative complaint the agency filed in September accusing their PBMs of artificially inflating insulin prices through a process it likened to "bribes."
November 20, 2024 at 11:53 AM
3 minute read
CVS Health, Cigna and UnitedHealth Group sued the Federal Trade Commission on Tuesday, alleging that the administrative process the Lina Khan-led agency is using to prosecute claims that their pharmacy benefit manager subsidiaries artificially inflated insulin prices violates their constitutional rights.
Rhode Island-based CVS owns Caremark Rx, Connecticut-based Cigna owns Express Scripts and Minnesota-based UnitedHealth owns OptumRx, the nation's three largest pharmacy benefit managers. PBMs act as behind-the-scenes middlemen, negotiating discounts with drug manufacturers and reimbursement rates with insurers and determining which medications qualify for coverage.
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