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The U.S. Federal Trade Commission on Tuesday published the second part of its investigation into how prescription drug middlemen are marking up the prices of specialty generic drugs dispensed at their affiliated pharmacies by hundreds—and in some cases, thousands—of percent, underscoring what advocates say is the need for urgent action by policymakers.

The Federal Trade Commission says just three big companies control 80 percent of prescription drug pricing. Minnesota-based Optum RX, CVS Caremark and Express Scripts are now accused of marking up prices. Prescription benefit managers have been under growing scrutiny from state and federal regulators who have accused them of creating pharmacy deserts by steering consumers to their own pharmacies and driving independent pharmacists out of business.

Pharmacy benefit managers, which serve as the middlemen between drug makers, insurers and pharmacies, reaped $7.3 billion in revenue from marking up the prices of dozens of specialty generic drugs between 2017 and 2022, the Federal Trade Commission said in an interim report issued Tuesday. The practice came at a time when spending on drugs by patients, employers, insurers and others rose significantly. The nation’s three largest PBMs – CVS Health’s Caremark, Cigna’s Express Scripts and UnitedHealth Group’s Optum Rx – inflated the prices of drugs dispensed at their affiliated...

The three largest drug middlemen inflated the costs of numerous life-saving medications by billions of dollars over the past few years, the Federal Trade Commission said in a report released Tuesday. The top pharmacy benefit managers (PBMs) — CVS Health’s Caremark Rx, Cigna’s Express Scripts and UnitedHealth Group’s OptumRx — generated roughly $7.3 billion through price hikes over about five years starting in 2017, the FTC said. The “excess” price hikes affected generic drugs used to treat heart disease, HIV and cancer, among other conditions, with some increases more than...

The Federal Trade Commission (FTC) on Tuesday released its second interim report on pharmacy benefit managers (PBM), saying the major industry middlemen generate billions in revenue through vertical integration, industry dominance and marking up the prices of speciality drugs. The report specifically looked at the business practices of the Caremark Rx, Express Scripts and OptumRx, which are in turn owned by CVS Health, Cigna and UnitedHealth Group, respectively. These companies are considered the “Big 3” in the PBM industry, controlling roughly 60 percent of the market.

The three biggest pharmacy benefit managers made more than $7.3 billion over five years marking up the prices of specialty generic drugs for cancer, HIV and other conditions, the Federal Trade Commission charged on Tuesday. Why it matters: It's the second time the FTC has singled out CVS Caremark, Express Scripts and OptumRx for driving up drug costs. The report could provide fodder if President-elect Trump opts to make good on vows to crack down on pharmacy middlemen. • FTC Chair Lina Khan, a Biden appointee, said the findings justify...

An FTC report says the three major drug middlemen marked up prices of some generic drugs by “thousands of percent.” The drug middlemen known as pharmacy-benefit managers took another body blow from regulators on Tuesday, as they were criticized for charging way more for some “critical” prescription drugs than it cost them. The Federal Trade Commission said in its second interim staff report on prescription-drug middlemen that the “significant markups” in prices above what the drugs cost generated an extra $7.3 billion in revenue for the three largest PBMs and...

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For the second time in less than a year, the U.S. Federal Trade Commission has released a highly critical report of pharmacy benefit managers, which play a crucial but opaque role in the pharmaceutical supply chain. And the findings may provide further impetus for legislative action to curb practices that critics say contribute to the rising cost of prescription drugs. The latest report accuses the PBMs — CVS Caremark, OptumRx, and Express Scripts, all of which are owned by large health insurers — of boosting prices of specialty generic drugs...

The nation's three largest pharmacy benefit managers have significantly marked up the prices of certain medicines, including for heart disease, cancer and HIV, at their affiliated pharmacies, the U.S. Federal Trade Commission said Tuesday. From 2017 to 2022, the companies — UnitedHealth Group's Optum, CVS Health's CVS Caremark and Cigna's Express Scripts — marked up prices at their affiliated pharmacies by hundreds or thousands of percent, netting them $7.3 billion in revenue in excess of the acquisition costs of the drugs, the FTC said in its second report on the...