The Damage Report
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Top Pharmacies BUSTED For Insane Price Jacking Scheme In Alarming FTC Report
Posted
January 18, 2025
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5:13Now PlayingThe U.S. Federal Trade Commission reveals prices of specialty generic drugs are being unimaginably jacked up by thousands of percent with some major pharmacy benefit managers, including CVS Health's Caremark Rx, Cigna Group's Express Scripts, and UnitedHealth Group's OptumRx, specifically marking up cancer drugs to profit while people suffer. John Iadarola and Sharon Reed break it down on The Damage Report. Leave a comment with your thoughts below!
Read more here:
FTC report shows Big Pharma middlemen jack up prices by up to 7,736%
"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 FTC's second interim staff report on consolidated pharmacy benefit managers (PBMs) found that the three largest of these middlemen—CVS Health's Caremark Rx, Cigna Group's Express Scripts, and UnitedHealth Group's OptumRx—"marked up two specialty generic cancer drugs by thousands of percent and then paid their affiliated pharmacies hundreds of millions of dollars of dispensing revenue in excess of estimated acquisition costs for each drug annually.""
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