Series

Names to Know

Profiles of the specific humans whose decisions shaped the systems we cover. Lobbyists, regulators, PE principals, legislators, executives.

4 pieces

Public Health

Three companies handle 80 percent of U.S. prescriptions. They also own three insurers. Here is the ledger.

CVS Caremark, Express Scripts, and OptumRx process 4 of every 5 prescriptions filled in the United States. All three are owned by the same parent companies that own Aetna, Cigna, and UnitedHealth. The FTC's 2024 interim staff report documents the result: a vertically integrated rebate machine where the PBM negotiates lower drug prices on paper, pockets the difference, and the patient pays the list price anyway.

By Gilfoyle · · Read →