08:43 AM EST, 12/11/2024 (MT Newswires) -- A Senate bill sponsored by Sens. Elizabeth Warren, D-Mass., and Josh Hawley, R-Mo. that is set to be introduced would force companies that own health insurers or pharmacy-benefit managers, also known as PBMs, to divest their pharmacy businesses within three years, The Wall Street Journal reported Wednesday.

A companion bill is also set to be introduced Wednesday in the House, the Journal said.

The three largest PBMs -- CVS Health's ( CVS ) Caremark, Cigna's ( CI ) Express Scripts and UnitedHealth Group's ( UNH ) OptumRX -- belong to companies owning some of the nation's largest health insurers, according to the report.

CVS, Cigna ( CI ) and UnitedHealth ( UNH ) did not immediately reply to requests for comment from MT Newswires.

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