The Federal Trade Commission filed an administrative antitrust complaint against the three largest pharmacy benefit managers—CVS Caremark, Express Scripts (Cigna), and OptumRx (UnitedHealth)—and their affiliated group purchasing organizations, charging them with anticompetitive and unfair practices …
Federal Trade CommissionLina KhanCVS CaremarkExpress ScriptsOptumRx+3 morehealthcarepbmpharmacyantitrustftc+3 more
The House Committee on Oversight and Accountability held a hearing with executives from the three largest PBMs—Adam Kautzner (Express Scripts), David Joyner (CVS Caremark), and Patrick Conway (OptumRx)—presenting findings from a comprehensive 32-month investigation. Chairman James Comer released a …
House Oversight CommitteeJames ComerAdam KautznerDavid JoynerPatrick Conway+3 morehealthcarepbmpharmacyantitrustcongressional-oversight+2 more
The Federal Trade Commission released its interim staff report titled ‘Pharmacy Benefit Managers: The Powerful Middlemen Inflating Drug Costs and Squeezing Main Street Pharmacies,’ revealing alarming market concentration and anticompetitive practices. The report found that three PBMs—CVS …
Federal Trade CommissionLina KhanCVS CaremarkExpress ScriptsOptumRx+1 morehealthcarepbmpharmacyantitrustregulatory-capture+3 more
The Senate Health, Education, Labor, and Pensions (HELP) Committee held a historic hearing bringing together CEOs of major insulin manufacturers (Eli Lilly, Novo Nordisk, Sanofi) and executives from the three largest PBMs (CVS Caremark, Express Scripts, OptumRx) to examine soaring insulin prices. …
Bernie SandersSenate HELP CommitteeLars Fruergaard JorgensenPaul HudsonHeather Cianfrocco+6 morehealthcarepbmpharmacyinsulindrug-pricing+2 more
The Federal Trade Commission unanimously voted to authorize a comprehensive investigation into pharmacy benefit manager business practices under Section 6(b) of the FTC Act, with all five commissioners voting in favor. The FTC issued compulsory orders to the six largest PBMs—CVS Caremark, Express …
Federal Trade CommissionLina KhanChuck GrassleyMaria CantwellCVS Caremark+2 morehealthcarepbmpharmacyantitrustregulatory-capture+2 more
In January 2017, diabetes patients filed a federal antitrust class action lawsuit alleging that the three pharmaceutical manufacturers controlling 99% of the U.S. insulin market—Eli Lilly, Novo Nordisk, and Sanofi—conspired to raise insulin prices in near-lockstep coordination, increasing prices by …
Eli LillyNovo NordiskSanofiCVS CaremarkExpress Scripts+1 morehealthcarepharmaceutical-price-gougingantitrustcorporate-crimeregulatory-capture