On Friday, the Federal Trade Commission (FTC) filed a formal complaint against three major pharmacy benefit managers (PBMs)—CVS Health Inc’s (NYSE:CVS) Caremark, Cigna Corp’s (NYSE:CI) Express Scripts,

The U.S. Federal Trade Commission sued the country's three largest pharmacy benefit managers on Friday, accusing them of steering diabetes patients towards higher priced insulin in order to reap millions of dollars in rebates from pharmaceutical companies.

The agency alleges CVS’s Caremark, Cigna’s Express Scripts and UnitedHealth’s Optum Rx accepted money from drugmakers in exchange for keeping lower-cost insulin off their lists of approved

The US Federal Trade Commission sued units of CVS Health Corp., Cigna Group and UnitedHealth Group Inc. on Friday, accusing the drug middlemen of engaging in illegal rebate programs that drove up the price of insulin.

The agency alleges CVS’s Caremark, Cigna’s Express Scripts and UnitedHealth’s Optum Rx accepted money from drugmakers in exchange for keeping lower-cost insulin off their lists.

The agency said it filed a complaint in its administrative court alleging that CVS’s Caremark, Cigna’s Express Scripts and UnitedHealth’s Optum Rx accepted money from drugmakers in exchange for keepin

The Big Three handle at least 80% of the country’s insulin prescriptions. The price of insulin has exponentially increased in recent years. Now, the Federal Trade Commission (FTC) is suing three companies over allegedly inflating the cost of the drug at the expense of Americans who rely on it.