financetom
Business
financetom
/
Business
/
Update: Judge Rejects Pharmacy Benefit Managers' Bid to Block FTC's Insulin Cost Case
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Update: Judge Rejects Pharmacy Benefit Managers' Bid to Block FTC's Insulin Cost Case
Feb 19, 2025 8:27 AM

11:10 AM EST, 02/19/2025 (MT Newswires) -- (Updates with CVS Health's ( CVS ) reply in the third paragraph.)

A federal judge in Missouri declined Tuesday to accept the request of pharmacy benefit managers to enjoin the Federal Trade Commission's in-house case alleging they systematically preferred high-list-price insulin products in violation of the FTC Act.

The complaint, originally filed last November by CVS Health's ( CVS ) CVS Caremark, UnitedHealth Group's ( UNH ) Optum Rx and Cigna Group's ( CI ) Express Scripts, called the FTC's administrative proceeding unconstitutional and sought an injunction to stop it.

"Drugmakers alone set the price of insulin, but the FTC has already demonstrated it is not interested in considering our full perspective on this topic," a CVS spokesperson told MT Newswires via email. "We will continue to fight this unfair and unconstitutional proceeding."

UnitedHealth ( UNH ) and Cigna ( CI ) did not immediately reply to requests for comment.

Price: 66.32, Change: +0.75, Percent Change: +1.14

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
--Intel Guides For Q4 EPS of $0.12 on Revenue of $13.3-$14.3 Billion, vs CIQ Analyst Consensus of $0.07/Share on Revenue of $13.7 Billion
--Intel Guides For Q4 EPS of $0.12 on Revenue of $13.3-$14.3 Billion, vs CIQ Analyst Consensus of $0.07/Share on Revenue of $13.7 Billion
Nov 4, 2024
04:04 PM EDT, 10/31/2024 (MT Newswires) -- Price: 22.34, Change: +0.04, Percent Change: +0.18 ...
Amazon.com quarterly profits, revenue, beat Wall Street estimates
Amazon.com quarterly profits, revenue, beat Wall Street estimates
Nov 4, 2024
(Reuters) - Amazon.com ( AMZN ) on Thursday posted third quarter profit and sales that beat Wall Street estimates, sending shares up as much as 6% after the closing bell after they fell during the regular trading session. Net income was $15.3 billion, exceeding the average estimate of $12.2 billion, according to LSEG data. Amazon Web Services, the company's cloud...
Reinsurance Group of America Adjusted Operating Income Falls, Revenue Rises; Shares Drop
Reinsurance Group of America Adjusted Operating Income Falls, Revenue Rises; Shares Drop
Nov 4, 2024
04:44 PM EDT, 10/31/2024 (MT Newswires) -- Reinsurance Group of America ( RGA ) reported Q3 adjusted operating income late Thursday of $3.62 per diluted share, down from $5.57 a year earlier. Analysts polled by Capital IQ expected normalized EPS of $5.34. Revenue in the three months ended Sept. 30 rose to $5.65 billion from $5.15 billion a year earlier....
Atlassian raises annual revenue growth forecast, shares up 14%
Atlassian raises annual revenue growth forecast, shares up 14%
Nov 4, 2024
Oct 31 (Reuters) - Atlassian ( TEAM ) raised its annual revenue growth forecast on Thursday, anticipating growing demand from enterprise clients for its cloud software, sending the company's shares up 14% in extended trading. The Sydney, Australia-based company now expects fiscal year 2025 revenue growth to be in the range of 16.5% to 17.0%, compared with its earlier expectations...
Copyright 2023-2026 - www.financetom.com All Rights Reserved