Commentary: Federal Trade Commission May Finally Bring Down the Hammer on Pharmacy Benefit Managers

Amidst rising prescription drug prices, consumers may finally be getting some much-needed relief if the Federal Trade Commission (FTC) follows through with a recent pledge to investigate Pharmacy Benefit Managers (PBMs) for anticompetitive practices. 

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Michigan Senate Passes Bill to Lower Prescription Drug Prices

The Michigan Senate approved a bipartisan plan to reduce prescription drug prices in the state.

House Bill 4348 aims to save patients money by regulating pharmacy benefit managers (PBMs) who serve as facilitators between health plans, drug manufacturers and pharmacists.

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Commentary: Middlemen Who Control the Prescription Drug Market Are Responsible for Rising Insulin and Drug Prices

Why is insulin, invented more than 100 years ago, still unaffordable for many of America’s 10 million diabetics who rely on it?

Politicians reflexively blame pharmaceutical manufacturers. Sen. Bernie Sanders asked rhetorically in November, “What possible reason, other than greed, could there be for the pharmaceutical industry to raise the price of insulin by more than 1,400%?”

Michigan Attorney General Dana Nessel recently announced plans to investigate rising insulin prices as a pretext for increased government regulation of the market. “While drug companies profit off of people’s health, they also benefit from a current market in which they control the pricing,” she proclaimed. “Enough is enough.”

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Dave Yost Files Lawsuit Targeting a Pharmacy Benefit Manager Company for Allegedly Making Millions by Overcharging Ohio

Ohio Attorney General Dave Yost filed a lawsuit against Express Scripts, a pharmacy benefit manager (PBM), for allegedly breaking multiple contracts that allowed the company to profit millions from overcharges to the state.

A PBM is a company that controls the drug benefit program for employers or health plans according to verywellhealth.com.

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Ohio’s AG Yost Tells OptumRx ‘We’ll See You in Court’ for Overbilling the State’s Bureau of Workers Compensation Millions

Attorney General Dave Yost announced Monday he amended his lawsuit filed against pharmacy benefit manager (PBM) OptumRx, claiming the PBM excessively charged the Ohio Bureau of Workers Compensation for generic drugs. The overcharge totaled nearly $16 million. It is now “significantly more.”

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