Cigna’s Express Scripts sues FTC over drug pricing report
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Cigna’s (NYSE:CI) pharmacy benefit manager (PBM) Express Scripts has filed a lawsuit against the Federal Trade Commission (FTC) over the agency’s recent report on PBMs, which highlighted their contribution to soaring drug prices in the U.S.
According to court documents submitted on Tuesday, Express Scripts has asked a federal judge in St. Louis, Missouri, to order the FTC to withdraw the report and recuse the agency’s Chair, Lina Khan, from taking any action against the company.
The report released in July detailed how the six largest PBMs control nearly 95% of all prescriptions filled in the U.S. through years of vertical integration and market concentration.
In addition to Cigna’s (CI) Express Scripts, the report cited PBMs run by CVS Health (CVS), UnitedHealth (UNH), and Humana (HUM).
The FTC released its findings as an interim report following a two-year investigation into PBMs’ business practices.