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 >
What's Going On With Nike Stock Tuesday?
What's Going On With Nike Stock Tuesday?
Oct 2, 2024
Nike Inc ( NKE ) shares are in the spotlight Tuesday ahead of earnings after the bell. Here's what you need to know before the report. What To Know: Nike ( NKE ) is due to report fiscal first-quarter earnings results after the market close on Tuesday. The athletic footwear and apparel company is expected to report earnings of 52 cents per...
Update: Vizsla Silver Rises 3.3% as It Reports Additional Silver and Gold Mineralization at the Panuco Project
Update: Vizsla Silver Rises 3.3% as It Reports Additional Silver and Gold Mineralization at the Panuco Project
Oct 2, 2024
11:41 AM EDT, 10/01/2024 (MT Newswires) -- Vizsla Silver ( VZLA ) on Tuesday reported drilling results from 11 new holes targeting the Copala resource area of the Panuco silver-gold project in Mexico that expanded near-surface mineralization in the area. According to a statement, the reported drill results are from the recently completed infill program, designed to upgrade and expand...
Toyota says built extra stock in anticipation of US port strikes
Toyota says built extra stock in anticipation of US port strikes
Oct 2, 2024
(Reuters) - Toyota Motor North America said on Tuesday it had built extra inventory of vehicles and parts ahead of the U.S. port strikes, which began earlier in the day. Toyota ( TM ), which relies on the U.S. East Coast and Gulf Coast ports to import everything from vehicle components to fully-built cars, said it was closely monitoring the...
Hesai, SAIC Volkswagen Collaborate to Develop Automotive Lidar Program
Hesai, SAIC Volkswagen Collaborate to Develop Automotive Lidar Program
Oct 2, 2024
11:43 AM EDT, 10/01/2024 (MT Newswires) -- Hesai Group ( HSAI ) said Tuesday it signed a cooperation framework with SAIC Volkswagen to develop an automotive lidar program. Financial details weren't disclosed. This collaboration seeks to establish a new ecosystem for the automotive industry by utilizing Hesai's ( HSAI ) advanced lidar products and technology, the company said. SAIC Volkswagen...
Copyright 2023-2026 - www.financetom.com All Rights Reserved