"Millions of Americans with diabetes need insulin to survive, yet for many of these vulnerable patients, their insulin drug costs have skyrocketed over the past decade thanks in part to powerful PBMs and their greed,

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

Months earlier, the agency released a report alleging the companies drove up the costs of some medications, including insulin.