The Federal Trade Commission on Wednesday finalized a major settlement with Cigna Group’s (NYSE:CI) pharmacy benefit manager Express Scripts, aimed at dismantling anticompetitive practices that have historically inflated the cost of medications.
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Insulin Lawsuit
The agreement is expected to save American patients up to $7 billion in out-of-pocket insulin costs over the next decade while funneling millions in new annual revenue to local pharmacies.
In January, the FTC approved a 14-day suspension of proceedings.
The stay pushes back all discovery, filing, and decision deadlines and delays the evidentiary hearing until July 1.
Oral arguments on the PBMs’ motion to dismiss were also rescheduled, moving from Jan. 22 to Feb. 5. The pause applies to all respondents in the case.
In September 2024, the FTC filed a formal complaint against three major pharmacy benefit managers — CVS Health Inc.’s (NYSE:CVS) Caremark, Cigna’s Express Scripts, and UnitedHealth Group Inc.’s