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The simple corporate scheme behind massive US Brand Drug Prices

My 7-year whistleblower effort
"People Before Profits"

Month: March 2020

Caronavirus Pandemic: Bringing the Health Insurer CEO Schemers to the White House for a Worthless Photo Op

Last week, all the Health Insurer/PBM CEO Schemers appeared at the White House for a worthless photo opportunity. You can see the video at this link: https://m.youtube.com/watch?v=CYdEUZZkDNI As they always do, these Health insurer/PBM CEOs talked in rosy platitudes about how patients and the American public  are always their main concern. I have been hearing that spin for decades now. Please. You don’t have to be familiar with the disturbing stuff on this website to know that these CEO claims are almost pure BS. Their true “mission” is always profits and massive executive compensation packages, while spouting glossy nonsense and …

Caronavirus Pandemic: Bringing the Health Insurer CEO Schemers to the White House for a Worthless Photo Op Read More »

Pharma CEO Admission, Fall 2014: “PBMs don’t make their money off of rebates anymore”; they “make their money off of service fees” – fees from drug companies tied to massive U.S. “sticker” price increases.

“PBMs don’t make their money off of rebates anymore”. “PBMs make their money off of service fees”  – these PBM “fees” come from drug companies as a “percent” of brand drug “sticker” or “list” prices. “You just have to play ball with them (PBMs)” to get a contract. These were some of the firsthand statements casually stated to me at a private investor meeting in the fall of 2014 by the CEO of a mid-sized pharmaceutical company, Depomed. The former CEO of Depomed is a nice gentleman that I have known for more than 20 years and had met with …

Pharma CEO Admission, Fall 2014: “PBMs don’t make their money off of rebates anymore”; they “make their money off of service fees” – fees from drug companies tied to massive U.S. “sticker” price increases. Read More »

The definitive October 2013 “insider” Conference that should have quickly stopped widespread U.S. drug pricing abuse, but didn’t.

In mid-2013, through investigation using my training as a physician and an experienced healthcare investment professional, I uncovered the remarkably simple and secretive pharma/health insurer/PBM price collusion “fee” scheme behind widespread massive U.S. brand drug prices over the past 15 years. There is no other explanation for massive U.S. brand drug price increases. That was true in 2013 and is more so now as the irrefutable evidence has mounted and patient/public harm has greatly accelerated. However, even with the extensive investigative evidence, I filed my whistleblower cases for a very specific reason – because “insiders” admitted the whole thing to …

The definitive October 2013 “insider” Conference that should have quickly stopped widespread U.S. drug pricing abuse, but didn’t. Read More »

The U.S. PBM industry as we know it should have ended in August 2018, when both CVS and Express Scripts finally publicly admitted the 15-year old, simple, but secretive “fee” collusion scheme with pharma Now Fueling a national drug pricing crisis.

August 2018 should have been the end of the U.S. PBM industry as we know it, but nothing happened. Under intensive scrutiny about drug pricing, within a couple of days of each other that month, the senior managements of both CVS and Express Scripts made cataclysmic public admissions for the first time in their quarterly conference calls with expert Wall Street analysts. Both CVS and Express Scripts publicly admitted for the first that less than 10% of their skyrocketing profits now come from keeping a share of manufacturer rebates (i.e., discounts negotiated for clients and patients). As a physician and …

The U.S. PBM industry as we know it should have ended in August 2018, when both CVS and Express Scripts finally publicly admitted the 15-year old, simple, but secretive “fee” collusion scheme with pharma Now Fueling a national drug pricing crisis. Read More »

PBM Express Scripts: PROFITS TRIPLED TO $4.5 BILLION in just 4 years, while REVENUES DECLINED AND PRESCRIPTIONS PLUMMETED? How Possible?

There is only one explanation – A massive increase in secret “fees” from their drug company collusion “partners”, directly tied to skyrocketing U.S. brand drug prices/price increases, FOR DOING FAR LESS WORK. Below are the shocking financial numbers for the top pharmacy benefit manager (PBM), Express Scripts, from their own financial statements on file with the Securities and Exchange Commission (SEC). Express Scripts is now part of Cigna, after more mergers (including CVS/Aetna)  that only worsen the public harm, while serving to increase the secrecy of the ongoing simple pharma/health insurer/PBM “fee” price collusion scheme. Remember, pharmacy benefit manager (PBM) …

PBM Express Scripts: PROFITS TRIPLED TO $4.5 BILLION in just 4 years, while REVENUES DECLINED AND PRESCRIPTIONS PLUMMETED? How Possible? Read More »

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