Cigna's Evernorth Health Services said on Wednesday its actions will enhance transparency about the company's negotiations.

Oklahoma's attorney general has accused CVS's Caremark pharmacy benefit manager unit of under-reimbursing pharmacies for prescription drugs.

Between 2017 and 2022, UnitedHealth Group’s Optum, Cigna’s Express Scripts and CVS Health’s CVS Caremark marked up their prices by hundreds — and in some cases, thousands — of percent, resulting in $7.3 billion in revenue above cost.

The Federal Trade Commision (FTC) found prescription benefits managers like UnitedHealth's OptumRX have gained $7.3B from price gouging.

Witty's comments came during the company's first earnings call since the killing of Brian Thompson, the CEO of the company's insurance arm UnitedHealthcare.

Sen. James Lankford has been trying to pass legislation in response to an industry he believes will leave small towns without many pharmacy options.

But high medical costs contributed to results that disappointed Wall Street, and the company’s stock fell on the news that it had made less than analysts expected.

Edward Jones, a financial services firm, upgraded CVS Health (NYSE:CVS) stock from Hold to Buy. The upgrade comes as the stock, which InvestingPro analysis shows is currently undervalued, has posted a strong 28.

Leerink Partners maintained a Market Perform rating on CVS Health (NYSE:CVS) shares while increasing the price target from $51.00 to $55.00. The adjustment reflects the firm's expectation of an earnings recovery despite ongoing challenges within the Health Care Benefits (HCB) sector.

As PBM services have traditionally been dominated by large companies such as CVS Caremark, Express Scripts and OptumRx, health systems are starting to create alternatives. Here are four more things to know:

It's no secret that Americans are frustrated with what they're paying for prescription drugs. Most people blame drug companies for this state of affairs. But PBMs deserve the lion's share of the blame.

Attorney General Gentner Drummond sued CVS Caremark in an Oklahoma administrative court alleging that the company is under reimbursing pharmacies for prescription drugs.