Units of CVS Health Corp., Cigna Group and UnitedHealth Group Inc. charged significantly more than the national average acquisition cost for dozens of specialty generic drugs, bringing in more than $7.

According to FTC’s latest report, units of CVS Health Corp., Cigna Group and UnitedHealth Group Inc. charged significantly more than the national average acquisition cost for dozens of specialty gener

Three major drug middlemen needlessly marked up generic drugs for cancer, HIV, and multiple sclerosis to generate $7.3 billion in revenue, The Federal Trade Commission (FTC) said in a report released today.

Cigna (NYSE:CI) Group, and UnitedHealth Group Inc (NYSE:UNH) were down around 1% after the Federal Trade Commission (FTC) accused their pharmacy benefit manager units of imposing significant price markups on specialty generic drugs,

The U.S. Federal Trade Commission (FTC) has slammed pharmacy benefit managers (PBMs) owned by UnitedHealth ($UNH), CVS Health ($CVS) and Cigna

FTC report reveals significant markups by top PBMs on specialty drugs, driving $7.3 billion in revenue and raising costs for patients and health plan sponsors.

CVS faces strong competition from Amazon, Walmart, and Costco, impacting market share. Read why I maintain a Hold rating for CVS stock.

For the second time in less than a year, the FTC has released a highly critical report of pharmacy benefit managers, or PBMs.

The FTC report found that from 2017 to 2022, three PBMs—UnitedHealth Group's Optum, CVS Health's CVS Caremark and Cigna's Express Scripts—marked up prices at their pharmacies by hundreds or thousands of percent.

The Federal Trade Commission said three top pharmacy suppliers made profits of 7,700 percent on a lifesaving hypertension drug.

From 2017 to 2022, the companies marked up prices at their pharmacies by hundreds or thousands of percent, netting them $7.3 billion in revenue.

Between 2017 and 2022, UnitedHealth Group’s Optum, Cigna’s Express Scripts and CVS Health’s CVS Caremark marked up their prices by hundreds — and in some cases, thousands — of percent, resulting in $7.3 billion in revenue above cost.