The Federal Trade Commission (FTC) on Friday sued the three largest pharmacy benefit managers (PBMs) for engaging in alleged anticompetitive practices that boosted profits while “artificially” inflating the list price of insulin. The agency’s action targeted CVS Caremark Rx, Cigna’s Express Scripts and UnitedHealth’s OptumRx. The three companies combined administer about 80 percent of all prescriptions in the United States. The FTC accused the companies of creating a “perverse” drug rebate system that prioritizes insulin from manufacturers sold at a higher list price even when cheaper versions are available. The system allowed the PBMs and their affiliated group purchasing or
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