FTC Probes Pharmacies' Impact on Drug Prices
Tuesday, 07 June 2022 02:37 PM
The U.S. Federal Trade Commission has opened a probe into how big pharmacy benefit managers like CVS Caremark affect pricing and patients' access to prescription drugs at a time when costs of some medicines, even older ones like insulin, have skyrocketed, the agency said on Tuesday.
As part of the probe, the FTC is sending demands for information to CVS Health Corp.'s Caremark, Humana Inc., Cigna Corp.'s Express Scripts and UnitedHealth Group's OptumRx, among others.
Pharmacy benefit managers are usually hired to negotiate with drug makers for rebates and lower fees and to reimburse pharmacies for prescriptions that they dispense.
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READ MORE: https://www.newsmax.com/finance/streettalk/biden-administration-pharmaceutical-drug-prices-federal-trade-commission-ftc/2022/06/07/id/1073346/
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