The U.S. Federal Trade Commission (FTC) has released a second report on the pharmacy benefit management (PBM) industry, stating that the nation's three largest PBMs, including Cigna's Express Scripts, significantly marked up drug prices at their affiliated pharmacies. The report covers the period from 2017 to 2022.
According to the FTC, these PBMs inflated prices for certain medicines, including those for heart disease, cancer, and HIV, by hundreds or thousands of percent. This practice allegedly generated $7.3 billion in revenue that exceeded the acquisition costs of the drugs.
This finding follows a September lawsuit by the FTC against the same PBMs, accusing them of steering diabetes patients toward higher-priced insulin products to maximize rebates. The report intensifies regulatory pressure on Cigna's Express Scripts and the broader PBM industry, which could face further legislative or enforcement actions.
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