CVS, UnitedHealth Request FTC Chair Recusal Amid Ongoing Pharmacy Benefit Managers Lawsuit
Portfolio Pulse from Vandana Singh
CVS Health and UnitedHealth Group have requested the recusal of FTC Chair Lina Khan and two commissioners from a lawsuit alleging anti-competitive practices by major pharmacy benefit managers, including CVS's Caremark and UnitedHealth's Optum. The companies argue that the commissioners have shown bias against PBMs. The lawsuit accuses these PBMs of inflating insulin prices through unfair practices.
October 09, 2024 | 5:39 pm
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NEGATIVE IMPACT
Cigna's Express Scripts is implicated in an FTC lawsuit for allegedly inflating insulin prices through anti-competitive practices.
Cigna's involvement in the FTC lawsuit could lead to negative short-term impacts on its stock due to potential regulatory actions and public scrutiny.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 70
NEGATIVE IMPACT
CVS Health is involved in a legal dispute with the FTC over alleged anti-competitive practices by its PBM, Caremark. CVS has requested the recusal of FTC Chair Lina Khan, citing bias.
The legal dispute with the FTC could negatively impact CVS's stock in the short term due to potential regulatory actions and public perception of anti-competitive behavior.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90
NEGATIVE IMPACT
Eli Lilly is targeted in a Texas lawsuit alleging a conspiracy to inflate insulin prices, alongside major PBMs.
The Texas lawsuit could negatively impact Eli Lilly's stock in the short term due to legal challenges and potential reputational damage.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 60
NEGATIVE IMPACT
UnitedHealth Group is part of an FTC lawsuit alleging unfair practices by its PBM, Optum. The company has requested the recusal of FTC Chair Lina Khan, citing bias.
The involvement in the FTC lawsuit could lead to negative short-term impacts on UnitedHealth's stock due to regulatory scrutiny and potential penalties.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90