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Drudge Retort: The Other Side of the News
Wednesday, January 15, 2025

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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... 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 | Reply

... 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 | Reply

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

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

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 | Reply

Thanks Obamacare!

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

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 | Reply | Newsworthy 1

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 | Reply

Pharmacy Benefit Managers.

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

Thanks Obamacare!

www.nytimes.com

#9 | Posted by reinheitsgebot at 2025-01-15 08:27 PM | Reply | Newsworthy 1

No $#!+

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

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 -----.

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

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 | Reply

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 | Reply

#13 100% Not counting time spent with the specialty pharmacy. The PBMs are owned by the insurance companies.

#14 | Posted by visitor_ at 2025-01-16 12:29 AM | Reply

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

You mean institute Universal Healthcare?

He did say "only on day one", so go for it, sir!

#15 | Posted by redlightrobot at 2025-01-16 01:30 AM | Reply

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_

So what about trump's secret plan for better cheaper healthcare? Does he only serve the ruling class? I thought he was going to drain the swamp?

#16 | Posted by SpeakSoftly at 2025-01-16 02:08 PM | Reply

Trump's not so secret plan is that there is no plan.

#17 | Posted by visitor_ at 2025-01-16 02:23 PM | Reply

Trump's not so secret plan is that there is no plan.

#17 | Posted by visitor_

So you would elect a man who tells a lie that big to get elected? If he would lie about something like that, what else do you think he would lie about? Colluding with russia? Paying hush money to a porn star? Blackmailing our allies? Attempting a coup?

#18 | Posted by SpeakSoftly at 2025-01-16 02:37 PM | Reply | Funny: 1

Trump's not so secret plan is that there is no plan.

#17 | Posted by visitor_

True dat. Infrastructure Week was every week when Trumpy ruled the roost. Nothing was ever fixed but hey, the "concept" was there.

So he does have concepts of plans. Many many concepts.

And maybe before leaves office years from now he may actually develop one of those "concept" into an actual plan. But I hope not.

#19 | Posted by donnerboy at 2025-01-16 03:01 PM | Reply | Newsworthy 1

Try not to get too bent out of shape over Trump not doing what Biden also did not do.

#20 | Posted by visitor_ at 2025-01-16 07:59 PM | Reply | Newsworthy 1

@#20 ... Trump not doing what Biden also did not do. ...

Pres-elect Trump, during his first term, planned how many "infrastructure weeks?"

The Many Times It's Been Infrastructure Week' in Washington (2020)
www.nytimes.com

... From the moment President Trump made his 2016 campaign pledge to start a $1 trillion effort to rebuild the United States' roads and bridges, infrastructure has become a constant motif of his presidency: his unfulfilled boasts about cutting big bipartisan deals, his quest for distractions from disastrous news cycles and his inability to tackle the nation's pressing issues.

Democrats have called for a huge infrastructure deal, as well, only to see their hopes for a compromise with Mr. Trump undermined amid squabbling about how to pay for it and derailed by the president's anger at their investigations of his policies and conduct.

Over the past three years, as the White House's carefully laid plans for infrastructure-related events have repeatedly been thwarted or overshadowed by the scandal of the day, the phrase "Infrastructure Week" has become something of a joke and a metaphor for any well-intentioned proposal doomed to go nowhere. ...


#21 | Posted by LampLighter at 2025-01-16 08:19 PM | Reply

Try not to get too bent out of shape over Trump not doing what Biden also did not do.

#20 | Posted by visitor_

I'm going to need a link to biden saying he had a secret plan for better cheaper healthcare he'd reveal if we elected him.

Otherwise I'm going to suspect you're using a radically false equvilancy.

#22 | Posted by SpeakSoftly at 2025-01-16 08:19 PM | Reply

@#20 ... Trump not doing what Biden also did not do. ...

So, what did Pres Biden do?

He turned Pres-elect Trump's first term ~joke~ into action ...

At its two-year anniversary, the bipartisan infrastructure law continues to rebuild all of America (November 2023)
www.brookings.edu

... November 15, 2023, marks the two-year anniversary of the Infrastructure Investment and Jobs Act (IIJA) becoming law. After decades spent waiting for Congress to pass such a historic infrastructure bill, this is certainly a celebratory moment. But considering we're now 40% of the way through the law's authorizing period, it's also a moment to take stock of our progress.

It's typically difficult to track large spending bills, and with 452 unique funding pots and over $850 billion in total funding available, the IIJA should be no different. Fortunately, the Biden administration continues to prioritize data transparency by publishing the law's detailed award data. It's not hyperbolic to say the American public has never had a better view into the actual funding progress for a federal infrastructure law.

So, at the two-year mark, where do we stand?

Based on our analysis of published White House data, IIJA implementation is just now hitting its stride. Formula and direct federal spending continue to move at a steady pace, already pumping $306 billion into state coffers and direct investment projects. And like an athlete who grows into a game, competitive grantmaking is steadily increasing, with 80% of all competitive funding still left to be awarded. Just as importantly, the Biden administration has shown no flagrant political bias in splitting awards among states -- certainly welcome news to the bipartisan legislators who authored the bill.

Overall, state and local stakeholders should feel motivated to keep pursuing federally funded projects to rebuild and reimagine their communities. With over half of the IIJA's 5,532 competitive awards coming in under $1 million -- and another 29% of awards falling between $1 million and $10 million -- eligible entities of all sizes can find programs that fit their needs and capacities. Yet with inflation and interest rates high, infrastructure builders need to be careful that they prioritize projects that can deliver the most value in the long run. There's more money than usual, but it's far from infinite. ...

[emphasis mine]


#23 | Posted by LampLighter at 2025-01-16 08:25 PM | Reply

@#17 ... Trump's not so secret plan is that there is no plan. ...

So, your current alias admits Pres-elect Trump lies to you, apparently a lot.

Yet it still seems to support him?

#24 | Posted by LampLighter at 2025-01-16 08:29 PM | Reply

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