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Stock impact report

Pharmacy association lodges Competition Bureau complaint over Express Scripts fees [Globe and Mail, The (Toronto, Canada)]

The Cigna Group (CI) 
Last the cigna group earnings: 4/30 06:00 am Check Earnings Report
US:NYSE Investor Relations: cigna.com/about-us/investors
insurance claims at drugstore checkouts is abusing its dominance of the market, “squeezing” pharmacy profits with a new fee and potentially hampering people's choice over where they receive their medications. On Tuesday, the Canadian Pharmacists Association (CPhA) filed the complaint with the Competition Bureau, alleging anti-competitive behaviour by Mississauga-based Express Scripts Canada. The company is the largest in the country of what are known as “pharmacy benefit managers,” which act as intermediaries between pharmacies and insurance companies. Insurers subcontract their claims processing to these companies, which in turn adjudicate people's coverage so that they don't have to pay out of pocket for the full costs of their drugs at a pharmacy. On Jan. 1, Express Scripts Canada implemented a mandatory new fee for pharmacies to use that service. The move raised concerns across the industry that pharmacies that could not afford to pay would lose a significant number of custome Show less Read more
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