Cigna's Evernorth Health Services said on Wednesday its actions will enhance transparency about the company's negotiations.

FTC: ‘Big 3’ Pharmacy Benefit Managers Engaged in Price Gouging, PBMs, UnitedHealth OptumRx, CVS Caremark Rx, Express Scripts

The FTC report found that from 2017 to 2022, three PBMs—UnitedHealth Group's Optum, CVS Health's CVS Caremark and Cigna's Express Scripts—marked up prices at their pharmacies by hundreds or thousands of percent.

Between 2017 and 2022, UnitedHealth Group’s Optum, Cigna’s Express Scripts and CVS Health’s CVS Caremark marked up their prices by hundreds — and in some cases, thousands — of percent, resulting in $7.3 billion in revenue above cost.

Jan. 16 at 1:45 p.m. ETUnitedHealth Group's Optum Rx unit made a commitment to pass through 100% of rebates negotiated with drugmakers to the client. | UnitedHealth Group reported $5.5 billion in profit for the fourth quarter of 2024,

UnitedHealth’s net income plummeted to its lowest level since 2019 amid hefty costs, including some from the Change cyberattack. CEO Andrew Witty also remembered slain executive Brian Thompson on a Thursday morning call.

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.

It’s the latest step from pharmacy benefit managers to respond to relentless criticism from politicians and regulators over prescription drug costs.

Oil and gas production in the United States is hitting record highs, easily outpacing consumption growth and fueling an export boom that in 2020 achieved the country’s first trade surplus in energy since at least the 1950s.

Evercore ISI has updated its outlook on CVS Health (NYSE:CVS) shares, raising the price target from $60.00 to $65.00 while maintaining an Outperform rating. The adjustment comes in anticipation of future performance dynamics,

Independent drugstores are closing at an alarming rate, squeezed by the huge companies that reimburse pharmacies for costly medications.

As PBM services have traditionally been dominated by large companies such as CVS Caremark, Express Scripts and OptumRx, health systems are starting to create alternatives. Here are four more things to know: