02:08 PM EDT, 07/10/2024 (MT Newswires) -- The US Federal Trade Commission is getting ready to sue the largest three pharmacy benefit managers over their negotiating tactics for drug prices including insulin, following a two-year investigation into whether those companies steer patients toward more-expensive medicines, The Wall Street Journal reported Wednesday.

The three largest PBMs -- UnitedHealth's ( UNH ) OptumRx, Cigna's ( CI ) Express Scripts and CVS Health's ( CVS ) Caremark -- handle about 80% of US prescriptions, according to the report.

The FTC's lawsuits are expected to take aim at business practices related to rebates brokered with drug manufacturers, The WSJ reported, citing a person familiar with the matter.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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