The Federal Trade Commission accused UnitedHealth's OptumRx, CVS Caremark, and Cigna's Express Scripts of pocketing over $7 billion in markups on generic specialty drugs over a 5-year period. The Big Three PBMs drastically marked up specialty generic drug prices at affiliated pharmacies, with increases ranging from hundreds to thousands of percent. Brian Thompson's accused killer, Luigi Mangione, claimed industry failures as his motive. Under Thompson, denied claims at twice the industry average.
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00:00It's Benzinga, bringing Wall Street to Main Street.
00:02The Federal Trade Commission accused UnitedHealth's Otem Rx, CVS Caremark, and Cigna's Express
00:08Scripps of pocketing over $7 billion in markups on generic specialty drugs over a five-year
00:13period.
00:14The big three PBMs drastically marked up specialty generic drug prices at affiliated pharmacies,
00:20with increasing ranges from hundreds to thousands of percent.
00:23For all things money, visit Benzinga.com slash GSTV.