Three major drug middlemen needlessly marked up generic drugs for cancer, HIV, and multiple sclerosis to generate $7.3 billion in revenue, The Federal Trade Commission (FTC) said in a report released today.

Units of CVS Health Corp., Cigna Group and UnitedHealth Group Inc. charged significantly more than the national average acquisition cost for dozens of specialty generic drugs, bringing in more than $7.

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.

Cigna (NYSE:CI) Group, and UnitedHealth Group Inc (NYSE:UNH) were down around 1% after the Federal Trade Commission (FTC) accused their pharmacy benefit manager units of imposing

FTC report reveals significant markups by top PBMs on specialty drugs, driving $7.3 billion in revenue and raising costs for patients and health plan sponsors.