The Federal Trade Commission said three top pharmacy suppliers made profits of 7,700 percent on a lifesaving hypertension drug.

Units of CVS Health Corp., Cigna Group and UnitedHealth Group Inc. charged significantly more than the national average acquisition cost for dozens of specialty generic drugs, bringing in more than $7.

A new Federal Trade Commission (FTC) report found that the three largest Pharmacy Benefit Managers (PBMs) have taken in large profits on lifesaving medicine for heart disease, cancer and HIV. Pharmacy Benefit Managers are third-party companies connected to pharmacies that are intermediaries between insurance providers and pharmaceutical manufacturers and claim to reduce consumer costs.

UnitedHealth reported fourth-quarter results on Thursday that reflected persistent challenges for the health insurance sector.

But high medical costs contributed to results that disappointed Wall Street, and the company’s stock fell on the news that it had made less than analysts expected.

Three major drug middlemenneedlessly marked up generic drugs for cancer, HIV, and multiple sclerosis to generate $7.3 billion in revenue, The Federal Trade Commission (FTC) said in a reportreleased today.

Health insurance companies gained today with shares of Humana Inc. ( NYSE:HUM ), UnitedHealth Group ( NYSE:UNH) and CVS Health ( NYSE:CVS) are on the market movers list among top gainers. Government proposal that potentially raised payments for Medicare Advantage plans in 2026 was said to be the main reason for the increase.

Shares of health insurance companies are trading higher after The Centers for Medicare and Medicaid Services proposed a rise to Medicare Advantage payments.

The accused killer of Brian Thompson cited the industry’s failures as his motive for assassinating the UnitedHealth executive on the streets of New York. Luigi Mangione ended up receiving an outpouring of support on social media from Americans furious how the Minnesota-based company mistreated their loved ones.

FTC stated that the 'Big 3' PBM organisations collectively generated over £5.94 billion ($7.3 billion) in revenue from 2017 to 2022.

Shares of UnitedHealth, the first company with a large health insurance component to report earnings, fell 4.7% in early trading, dragging down rivals along with it. CVS Health and Elevance Health ...

UnitedHealth Group will promote one of its top insurance executives to replace Brian Thompson, the slain CEO of its UnitedHealthcare arm.