Published 08/07/2024 12:00:00 a.m.

FTC Report Finds Pharmacy Benefit Managers Inflate Drug Prices

The Federal Trade Commission's report reveals that Pharmacy Benefit Managers significantly inflate drug prices, harming patients and independent pharmacies, especially in rural areas, as stated by FTC Chair Lina Khan.
The FTC plans to sue three large health companies for their roles as middlemen in inflating medication costs, including insulin, according to a source for CNBC.
The report criticizes the three largest PBMs for manipulating the drug supply chain, ultimately disadvantaging independent pharmacies and increasing costs for patients.

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Reuters

Explainer: Why are US pharmacy benefit managers under fire?

The U.S. Federal Trade Commission said on Tuesday in an interim report on its investigation into pharmacy benefit managers that healthcare consolidation has given the companies outsized influence over prescription drug prices that could warrant regulation.

08/07/2024 12:00:00 a.m.·United Kingdom

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Hindustan Times

US FTC to sue drug middlemen over insulin prices, source says

HEALTH-USA/INSULIN (UPDATE 4, PIX):UPDATE 4-US FTC to sue drug middlemen over insulin prices, source says

07/10/2024 8:35:56 p.m.·New Delhi, India

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The Star Kuala Lumpur

Middlemen appear to be driving up drug prices in U.S.: FTC

NEW YORK, July 9 (Xinhua) -- The U.S. Federal Trade Commission (FTC) on Tuesday sharply jabbed pharmacy benefit managers, saying in a 71-page report that "these powerful middlemen may be profiting by inflating drug costs and squeezing Main Street pharmacies." Read full story

07/09/2024 6:48:00 p.m.·Malaysia

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CNN

Pharmacy benefit managers profit at expense of patients and small pharmacies, FTC says

Pharmacy benefit managers, which negotiate the terms for prescription drug access for hundreds of millions of Americans, are racking up profits while squeezing patients and independent pharmacies, according to an interim staff report released Monday by the Federal Trade Commission.

07/09/2024 10:47:43 p.m.·Atlanta, United States

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KIFI

Pharmacy benefit managers profit at expense of patients and small pharmacies, FTC says

By Tami Luhby, CNN (CNN) — Pharmacy benefit managers, which negotiate the terms for prescription drug access for hundreds of millions of Americans, are racking up profits while squeezing patients and independent pharmacies, according to an interim staff report released Tuesday by the Federal Trade Commission. The commission, which launched an inquiry into the opaque pharmacy benefit manager or PBM industry in 2022, found that a handful of domina…

07/09/2024 10:47:43 p.m.·Idaho Falls, United States

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