Cigna to Lower Prescription Drug Costs for Patients
The changes will allow patients to access lower prices negotiated by Cigna’s pharmacy benefit manager, Express Scripts.
Cigna Group has planned to reduce out-of-pocket costs for prescription drugs.
The company is responding to growing criticism regarding the role of its pharmacy benefit manager (PBM) in driving up drug prices.
Further, the changes will allow patients to access lower prices negotiated by Cigna’s pharmacy benefit manager, Express Scripts.
The United States has the highest prescription drug costs in the world, and the nation’s three largest PBMs—CVS Health’s Caremark, Cigna’s Express Scripts, and UnitedHealth Group’s Optum—have been accused of significantly marking up the prices of certain medications, according to a recent report by the US Federal Trade Commission.
The announcement comes amid concerns about the impact of PBMs on drug pricing. Express Scripts, which handles negotiations for Cigna, will be central to ensuring that patients can access more affordable prescription prices.
The three dominant PBMs—Caremark, Express Scripts, and Optum—control most US pharmacy benefits market, while their parent companies also operate health insurance and pharmacy businesses.
