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Watch Pharma middlemen appear to be driving up drug costs, FTC says Yahoo Finance Information Video

Watch Pharma middlemen appear to be driving up drug costs, FTC says Yahoo Finance YouTube Information Video

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In a scathing interim report, the Federal Commerce Fee argues that pharmacy profit managers (PBMs) “wield huge energy over sufferers’ capability to entry and afford their pharmaceuticals, permitting PBMs to considerably affect what medication can be found and at what value.” The report additionally finds that PBMs damage impartial pharmacies by “imposing unfair, arbitrary, and dangerous contractual phrases” that may affect their capability to remain in enterprise. The FTC states the three largest PBMs, CVS Caremark (CVS), Cigna’s Categorical Scripts (CI), and UnitedHealth’s Optum Rx (UNH), “processed practically 80 % of the roughly 6.6 billion prescriptions disbursed by U.S. pharmacies in 2023.” In a press release, Cigna rebuffed the FTC’s claims, calling the conclusions “biased,” arguing the findings will not assist convey down prescription medicine prices, including they “stay up for addressing the blatant inaccuracies within the Fee’s preliminary report.” Yahoo Finance’s Anjalee Khemlani discusses the FTC’s report within the video above. For extra knowledgeable perception and the most recent market motion, click on right here to observe this full episode of Catalysts. This publish was written by Stephanie Mikulich.

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