PHILADELPHIA (KYW Newsradio) — The City of Philadelphia sued three big drug manufacturers and three pharmacy benefit managers (or PBMs) on Tuesday over an alleged scheme to increase the price of insulin.
The manufacturers named are Eli Lilly, Novo Nordisk and Sanofi.
The PBMs named are CVS Caremark, Express Scripts and OptumRx. PBMs act as middlemen for insurers or employers and drugmakers that manage prescription drug benefits. Their responsibilities include negotiating drug prices with manufacturers and pharmacies, processing drug claims, and establishing which drugs are covered by which plans…