AI & Machine Learning in Biotechnology
STAT+: FTC strikes proposed deal with CVS over charges its PBM manipulated insulin prices, impeded access
The Federal Trade Commission reached a proposed settlement with CVS Caremark, one of the largest pharmacy benefit managers in the U.S., over allegations the company artificially inflated the price of insulin and impeded access to the lifesaving diabetes treatment, according to a document filed on the agency website.
A CVS spokesperson wrote us that the “proposed agreement is subject to review and approval by the FTC chair. Final terms are still pending and will be confirmed once the settlement is officially finalized. We will be able to provide additional details following this review. We expect the settlement process to conclude in the coming weeks.”
An agreement was widely expected after another large pharmacy benefit manager, Cigna’s Express Scripts, reached a final settlement last month with the agency over the same allegations. The cases stem from a complaint that the FTC filed in September 2024 against CVS Caremark, Express Scripts, and UnitedHealth’s OptumRx.
The Federal Trade Commission reached a proposed settlement with CVS Caremark, one of the largest pharmacy benefit managers in the U.S., over allegations the company artificially inflated the price of insulin and impeded access to the lifesaving diabetes treatment, according to a document filed on the agency website.
A CVS spokesperson wrote us that the “proposed agreement is subject to review and approval by the FTC chair. Final terms are still pending and will be confirmed once the settlement is officially finalized. We will be able to provide additional details following this review. We expect the settlement process to conclude in the coming weeks.”
An agreement was widely expected after another large pharmacy benefit manager, Cigna’s Express Scripts, reached a final settlement last month with the agency over the same allegations. The cases stem from a complaint that the FTC filed in September 2024 against CVS Caremark, Express Scripts, and UnitedHealth’s OptumRx.