"Millions of Americans with diabetes need insulin to survive, yet for many of these vulnerable patients, their insulin drug costs have skyrocketed over the past decade thanks in part to powerful PBMs and their greed."
"The FTC's administrative action seeks to put an end to the Big Three PBMs' exploitative conduct and marks an important step in fixing a broken system-a fix that could ripple beyond the insulin market and restore healthy competition to drive down drug prices for consumers."
"The report alleged that market concentration means the companies can drive up prices, no matter how it impacts patients. However, Express Scripts pushed back this week, filing a lawsuit over the July report, saying it was merely a matter of ideological bias."
"Insulin can cost patients hundreds of dollars a month, and the price has drastically increased in recent years, inflating 24% between 2017 and 2022, according to the American Diabetes Association."
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