The Federal Trade Commission said pharmacy benefit managers created a "perverse drug rebate system" that artificially inflated the cost of insulin.

The Federal Trade Commission said Friday that it is suing three drug middlemen, accusing them of inflating insulin prices.

The Big Three handle at least 80% of the country’s insulin prescriptions. The price of insulin has exponentially increased in recent years. Now, the Federal Trade Commission (FTC) is suing three companies over allegedly inflating the cost of the drug at the expense of Americans who rely on it.