Wed Sep 18 02:57:29 UTC 2024: ## Cigna Demands FTC Retraction in Escalating Drug-Price Fight
**Washington, D.C.** – The fight over drug prices escalated this week with Cigna, a major health insurer, demanding the Federal Trade Commission (FTC) retract its report criticizing pharmacy benefit managers (PBMs). This follows a lawsuit filed by Express Scripts, a leading PBM, against the FTC over the same report.
The FTC report, released in July, accused PBMs of using opaque practices and complex contracts to inflate drug prices and reduce consumer savings. The report sparked outrage from both PBMs and drug manufacturers, who argued that the FTC’s findings were misleading and inaccurate.
Cigna, which has long been critical of PBM practices, joined the chorus of criticism this week, demanding a retraction from the FTC. The insurer argues that the report’s conclusions are “deeply flawed” and that it “ignores the significant value that PBMs can provide.”
“We believe the FTC report is inaccurate and misleading, and we urge the agency to retract it,” a Cigna spokesperson said.
Meanwhile, Express Scripts, which manages prescription drug benefits for millions of Americans, has taken legal action against the FTC. The company alleges that the agency’s report “contains serious factual inaccuracies” and that it was based on “biased and unreliable data.”
The lawsuit comes as lawmakers continue to grapple with the issue of high drug prices. The FTC’s report has fueled the debate, with some calling for increased regulation of PBMs, while others argue that the industry needs more time to adapt to changing market conditions.
With Cigna joining the fray, it seems likely that the fight over drug pricing will only intensify in the coming months. The outcome of the lawsuit against the FTC could have a significant impact on the future of the PBM industry.
First Piper 