Federal Trade Commission sues largest drug middlemen for allegedly inflating insulin prices [CNN]
CVS Health Corporation (CVS)
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Source: CNN
artificially inflating insulin list prices that resulted in patients paying more the medications. The agency alleges that CVS Health's Caremark Rx, Cigna's Express Scripts and United Health Group's OptumRx and their affiliated group purchasing organizations created a system that prioritizes high rebates from drug manufacturers, leading to artificially high insulin list prices. The companies, known as PBMs, excluded available insulin products with lower prices — that could have been more affordable for patients — in favor of higher-priced insulins that provided higher rebates. PBMs make money through rebates and fees, which are negotiated with drug manufacturers and are tied to a drug's list price. Insulin products with higher list prices result in higher rebates and fees for the PBMs, the complaint alleges. “Millions of Americans with diabetes need insulin to survive, yet for many of these vulnerable patients, their insulin drug costs have skyrocketed over the past decade thanks
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CVS
Earnings
- 11/6/24 - Beat
CVS
Sec Filings
- 11/8/24 - Form 13F-HR
- 11/6/24 - Form 8-K
- 11/6/24 - Form 10-Q
- CVS's page on the SEC website