Big Pharma's Pharmacy-Benefit Managers Accuse FTC of Overreach In Effort to Reshape Drug Rebate System

The Federal Trade Commission (FTC) is facing legal challenges from three competing pharmacy-benefit managers (PBMs) over its attempt to restrict their ability to negotiate drug prices for health plan sponsors.

In September, the FTC filed a formal complaint against three major pharmacy benefit managers (PBMs)—CVS Health Inc’s (NYSE:CVS) Caremark, Cigna Corp’s (NYSE:CI), Express Scripts, and UnitedHealth Group Inc’s (NYSE:UNH) Optum—for allegedly engaging in unfair and anti-competitive practices that have inflated the list price of insulin medications.

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The complaint accuses the ...

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