Wednesday, January 15, 2025

CVS, Cigna, and UnitedHealth Inflated Cancer and HIV Drug Prices, FTC says

The Federal Trade Commission said the companies made $7.3 billion over five years from the marked up prices

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FTC:Staff's latest report found that the 'Big 3 PBMs'--Caremark Rx, LLC (CVS), Express Scripts, Inc. (ESI), and OptumRx, Inc. (OptumRx)--marked up numerous specialty generic drugs dispensed at their affiliated pharmacies by thousands of percent, and many others by hundreds of percent. Such significant markups allowed the Big 3 PBMs and their affiliated specialty pharmacies to generate more than $7.3 billion in revenue from dispensing drugs in excess of the drugs' estimated acquisition costs from 2017-2022. The Big 3 PBMs netted such significant revenues all while patient, employer, and other health care plan sponsor payments for drugs steadily increased annually, according to the staff report.

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More from the article...

... The PBMs generated more than $7.3 billion in excess revenue, with affiliated pharmacies receiving higher reimbursements than unaffiliated counterparts.

"The FTC staff's second interim report finds that the three major pharmacy benefit managers hiked costs for a wide range of lifesaving drugs, including medications to treat heart disease and cancer," said FTC Chair Lina Khan. ...



#1 | Posted by LampLighter at 2025-01-14 03:28 PM

... imposed markups of hundreds to thousands of percent on critical drugs ...

Another example of corporations exploiting the needed healthcare of people for the profits of their wealthy owners?

#2 | Posted by LampLighter at 2025-01-14 07:12 PM

IT'S ALL ABOUT SHAREHOLDER VALUE!...man.

#3 | Posted by Effeteposer at 2025-01-14 07:29 PM

One last good deed from the FTC before it is destroyed by fascists who will never again tell us when corporations are killing us with their greed.

#4 | Posted by SpeakSoftly at 2025-01-15 06:32 PM

Thanks Obamacare!

#5 | Posted by visitor_ at 2025-01-15 07:34 PM

Thanks Obamacare!

#5 | Posted by visitor_

Thank god trump has a secret plan for something better and cheaper right?

When do we get to hear it? His 4th term?

#6 | Posted by SpeakSoftly at 2025-01-15 08:08 PM

Can you imagine the wailing and gnashing of teeth if Trump attempted to untie the gordian knot of Obamacare?

#7 | Posted by visitor_ at 2025-01-15 08:18 PM

Pharmacy Benefit Managers.

#8 | Posted by visitor_ at 2025-01-15 08:19 PM

Thanks Obamacare!

www.nytimes.com

#9 | Posted by reinheitsgebot at 2025-01-15 08:27 PM

No $#!+

#10 | Posted by hamburglar at 2025-01-15 08:42 PM

Can you imagine the wailing and gnashing of teeth if Trump attempted to untie the gordian knot of Obamacare?

#7 | Posted by visitor_

Oh so now trump doesn't do things because he worries what democrats will say?

What a pussy.

#11 | Posted by SpeakSoftly at 2025-01-15 09:00 PM

I never said that. I just said that Democrats would squeal like stuck pigs if Trump attemp1ed anything. The reason he won't do anything is the same reason Biden did nothing. The current system is too profitable for the ruling class.

#12 | Posted by visitor_ at 2025-01-15 09:37 PM

I spent at least 12 hours a month on the phone with Express Scripts while they pretend to help me and I raise hell escalating to another level, whereof upon it starts over and they pretend they have no record of previous calls. They are evil.

#13 | Posted by Miranda7 at 2025-01-15 11:14 PM

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