Health insurer Cigna's unit Evernorth Health said on Wednesday it will make changes to help lower out-of-pocket cost of prescription drugs for patients at its pharmacy stores. The changes will protect patients from paying a high list price for their medication by giving them access to lower prices negotiated by Cigna's pharmacy benefit manager,

It’s the latest step from pharmacy benefit managers to respond to relentless criticism from politicians and regulators over prescription drug costs.

After UnitedHealthcare CEO Brian Thompson was shot to death in December, law enforcement records show a burst of police activity at the homes of health executives.

The UnitedHealth Group is overcharging patients for necessary life-saving drugs as a result of price gouging that increases the cost of such medication exponentially.

Witty's comments came during the company's first earnings call since the killing of Brian Thompson, the CEO of the company's insurance arm UnitedHealthcare.

UnitedHealth Group (NYSE:UNH) reported the fourth-quarter 2024 earnings and reaffirmed 2025 guidance. The company reported adjusted EPS of $6.81, up from $6.16 a year ago, beating the consensus of $6.

But high medical costs contributed to results that disappointed Wall Street, and the company’s stock fell on the news that it had made less than analysts expected.

The FTC report showed that from 2017 to 2022, the three PBMs—UnitedHealth Group's Optum, CVS Health's CVS Caremark and Cigna's Express Scripts—marked up prices at their pharmacies by hundreds ...

From 2017 to 2022, the companies marked up prices at their pharmacies by hundreds or thousands of percent, netting them $7.3 billion in revenue.

FTC stated that the 'Big 3' PBM organisations collectively generated over £5.94 billion ($7.3 billion) in revenue from 2017 to 2022.

Adjusted per-share earnings in the fourth quarter for UnitedHealth top analysts’ estimates but revenue comes up short.

The FTC report found that from 2017 to 2022, three PBMs—UnitedHealth Group's Optum, CVS Health's CVS Caremark and Cigna's Express Scripts—marked up prices at their pharmacies by hundreds or thousands of percent.