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Top related persons:
Eli Lilly - 2 Rahul Rao - 2 PBMs - 2 Cigna - 1 It’s - 1 Raja Krishnamoorthi - 1 Lina Khan - 1 UnitedHealth - 1
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U.S FTC’s Vermont Rayburn Washington , drugmakers FTC's
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Federal Trade Commission - 2 FTC - 2 CVS - 2 Cigna's - 2 Novo Nordisk - 2 Zinc Health - 1 Ascent Health - 1 Emisar Pharma Services - 1

Search resuls for: "Rahul Rao"


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☆ Federal Trade Commission accuses three drug middlemen of inflating insulin prices
  + stars: | 2024-09-20 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Mirna-Alsharif-Byline-Jm.Jpg | Mirna Alsharif | ) www.nbcnews.com   time to read: +3 min
The Federal Trade Commission said Friday that it is suing three drug middlemen, accusing them of inflating insulin prices. PBMs work with insurance companies to negotiate discounted prices from drug companies in exchange for including the drugs in their coverage. The drug was priced at $274 in 2017, as a result of the PBMs rebate system strategy, the FTC said. In July, Democratic and Republican lawmakers blamed executives from Caremark, Express Scripts and Optum Rx for sky-high prescription drug prices in the U.S. during an oversight committee hearing. The lawsuit also comes as states — most recently Vermont — have sued PBMs, alleging they drive up drug costs.
Persons: Cigna, Eli Lilly, Rahul Rao, It’s, Raja Krishnamoorthi, PBMs Organizations: Federal Trade Commission, FTC, CVS, Cigna's, Zinc Health, Ascent Health, Emisar Pharma Services, UnitedHealth, CVS Health, Novo Nordisk, Democratic, Republican, Caremark, New York Times, Republicans, ” Rep Locations: U.S, FTC’s, Vermont
☆ FTC sues drug middlemen for allegedly inflating insulin prices
  + stars: | 2024-09-20 | by ( Annika Kim Constantino | ) www.cnbc.com   time to read: +4 min
The Federal Trade Commission on Friday sued three large U.S. health companies that negotiate insulin prices, arguing the drug middlemen use practices that boost their profits while "artificially" inflating costs for patients. It comes three days after Express Scripts sued the FTC, demanding that the agency retract its allegedly "defamatory" July report that claimed that the PBM industry is hiking drug prices. It also alleges that PBMs favor those high-list-price insulins even when more affordable insulins with lower list prices become available. President Joe Biden's signature Inflation Reduction Act has capped insulin prices for Medicare beneficiaries at $35 per month. The FTC said it remains "deeply troubled" by the role insulin manufacturers play in higher list prices, arguing that they inflate prices in response to PBMs' demands for higher rebates.
Persons: Lina Khan, UnitedHealth, drugmakers Eli Lilly, Caremark, PBMs, Rahul Rao, Rao, Joe Biden's, Biden, Eli Lilly, Eli Lilly's Organizations: Federal Trade Commission, CVS, Cigna's, FTC, Sanofi, Novo Nordisk, Express, Competition Locations: Rayburn, Washington ,, U.S, drugmakers, FTC's
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