03:21 PM EDT, 07/10/2024 (MT Newswires) -- (Updates with additional details throughout.)

The Federal Trade Commission plans to sue the three largest pharmacy-benefit managers, including OptumRx, Express Scripts, and CVS Caremark, over their drug pricing tactics, including insulin, the Wall Street Journal reported Wednesday.

This follows a two-year investigation into whether these companies steered patients toward more-expensive medicines. These three PBMs reportedly handle about 80% of US prescriptions.

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

OUnitedHealth's (UNH) OptumRx, Cigna's ( CI ) Express Scripts and CVS Health's ( CVS ) Caremark, and FTC did not immediately respond to MT Newswires' requests for comment.

(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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