FTC Sues 'Middlemen' For Inflating Insulin Drug Prices

Lina Khan, the head of the Federal Trade Commission, testifies before a House panel in May. The FTC on Friday sued three prescription drug gatekeepers, alleging they worked to artificially increase the price of insulin to boost their profits. (Credit: Kevin Dietsch/Getty Images)

The Federal Trade Commission on Friday sued three of the largest prescription drug middlemen, accusing the health companies of steering diabetes patients toward higher-priced insulin to increase their profits.

The three - CVS Health's Caremark, UnitedHealth Group's Optum, and Cigna's Express Scripts - are known as prescription drug benefit managers (PBMs).