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. Get CNN Health's weekly newsletter Sign up here to get The Results Are In with Dr. Sanjay Gupta every Friday from the CNN Health team. 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. Ad Feedback “Millions of American
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CVS
News
- Drug middlemen illegally drive up the cost of insulin, FTC says [CBS News]CBS News
- Drug middlemen illegally drive up the cost of insulin, FTC says [CBS News]CBS News
- Federal Trade Commission sues largest drug middlemen for allegedly inflating insulin prices [CNN]CNN
- Pharmacy Benefit Management (PBM) Market to Surpass USD 934.9 billion by 2032 Driven by Innovation and Healthcare Spending [Yahoo! Finance]Yahoo! Finance
- CVS Health (CVS) Stock Sinks As Market Gains: What You Should Know [Yahoo! Finance]Yahoo! Finance
CVS
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CVS
Sec Filings
- 9/19/24 - Form 3
- 9/3/24 - Form 4
- 8/9/24 - Form 13F-HR
- CVS's page on the SEC website