The Federal Trade Commission (FTC) on Friday sued the three largest pharmacy benefit managers (PBMs) for engaging in alleged anticompetitive practices that boosted profits while “artificially” inflating the list price of insulin.

The agency brought action against Caremark, Express Scripts and Optum Rx on Friday, arguing their “anticompetitive and unfair” rebating practices “artificially inflated” the list price of life-saving insulin drugs.

The Texas attorney general has sued leading insulin manufacturers and pharmacy benefit managers (PBMs), accusing them of collaborating to inflate the cost of insulin. Texas Attorney General Ken Paxton's office said on Thursday it had sued insulin makers Eli Lilly,

AUSTIN — Attorney General Ken Paxton sued major pharmaceutical makers and other companies Thursday, alleging they violated Texas’ consumer protection law and unjustly enriched themselves by conspiring to spike insulin prices by up to 1,000% over the past decade.