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The Federal Trade Commission hit the three largest companies that negotiate drug prices with a lawsuit claiming they’ve artificially inflated the cost of insulin for patients. The companies—UnitedHealth Group’s Optum Rx, CVS Health’s Caremark, and Cigna’s Express Scripts—together administer ~80% of all US prescriptions, the agency said. The suit alleges they increased profits by steering patients toward higher-priced insulin with bigger rebates so they could pocket the cash that drug companies gave back.
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OpenAI has so many interested investors it’ll have to turn some away from an expected $6.5 billion funding round that values the company at $150 billion.
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Disney employees will have to stop using Slack in the wake of a hack that leaked the company’s chat logs.
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Visualize: How private equity tangled banks in a web of debt, from the Financial Times.
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Filed under: Drugs and Pharma, Ethics, Information Technology, Investing, Marcinko Associates, Recommended Books, Sponsors | Tagged: Caremark, Cigna, Disney, Financial Times, FTC, insulin prices, Marcinko, openAI, Optum, S&P 500, Slack, textbooks, UnitedHealth | Leave a comment »
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