08:05 AM EDT, 09/17/2024 (MT Newswires) -- Cigna Group ( CI ) said Tuesday its Express Scripts by Evernorth unit has sued the Federal Trade Commission in Missouri federal court, demanding the retraction of the regulator's July 2024 drug pricing report on the pharmacy benefit management, or PBM industry.
Cigna ( CI ) said the July 2024 report makes "unsubstantiated, false and biased claims."
The FTC's report shows "clear ideological bias" and includes "a false and damaging narrative", according to Andrea Nelson, Cigna Group's ( CI ) chief legal officer.
"There is no support for claims that PBMs are responsible for high drug costs," the company said. Cigna ( CI ) said PBMs have no incentive to see price hikes for branded drugs.
The FTC did not immediately respond to requests for comment from MT Newswires.
Price: 367.17, Change: +0.32, Percent Change: +0.09