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California insurer experiments with drug giveaway, bypassing secret fees
2 months, 3 weeks ago

California insurer experiments with drug giveaway, bypassing secret fees

LA Times  

Blue Shield of California is set to offer Humira, one of the world’s top-selling drugs, for free. “We want to be able to present the price to our membership so that they can make the choice.” There’s also a profit motive: Blue Shield of California currently spends more than $100 million a year on Humira, Gibbs said, more than any …

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High insulin prices spur a federal lawsuit against three pharmacy benefit managers
3 months ago

High insulin prices spur a federal lawsuit against three pharmacy benefit managers

Associated Press  

The federal government is suing some big pharmacy benefit managers over a system of drug rebates that regulators say has made the price of insulin soar for diabetic patients. That, the FTC said, helped PBMs and their group purchasing organizations “line their pockets while certain patients are forced to pay higher out-of-pocket costs” for insulin, which is used by people …

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Column: Pharmacy middlemen claim to keep prescription prices low. In fact, they’ve cost consumers billions
5 months, 1 week ago

Column: Pharmacy middlemen claim to keep prescription prices low. In fact, they’ve cost consumers billions

LA Times  

A CVS Pharmacy location in California. We’ve created plan designs to aggressively steer customers to home delivery where the drug cost is ~200 times higher.” PBMs are not lowering prices for drugs used by patients to treat severe diseases like prostate cancer and leukemia. The FTC staff found that for “specialty prescriptions” — a designation the PBMs place on certain …

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Microsoft CEO Nadella tells a judge his planned Activision takeover is good for gaming
1 year, 5 months ago

Microsoft CEO Nadella tells a judge his planned Activision takeover is good for gaming

The Hindu  

Microsoft CEO Satya Nadella told a judge Wednesday that his company's proposed $69 billion takeover of video game-maker Activision Blizzard will be good for the gaming industry, remarks that came as he defended the deal against an attempt by federal regulators to block it. Activision CEO Bobby Kotick also testified Wednesday, asserting that there’s no business incentive to deprive Microsoft …

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Microsoft CEO Nadella tells a judge his planned Activision takeover is good for gaming
1 year, 5 months ago

Microsoft CEO Nadella tells a judge his planned Activision takeover is good for gaming

Associated Press  

SAN FRANCISCO — Microsoft CEO Satya Nadella told a judge Wednesday that his company’s proposed $69 billion takeover of video game-maker Activision Blizzard will be good for the gaming industry, remarks that came as he defended the deal against an attempt by federal regulators to block it. Activision CEO Bobby Kotick also testified Wednesday, asserting that there’s no business incentive …

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Microsoft's bid to buy games giant faces triple anti-trust threat
1 year, 8 months ago

Microsoft's bid to buy games giant faces triple anti-trust threat

The Hindu  

Depending on which side you're on, tech giant Microsoft is either the hero fighting to bring some of the most popular video games to more people, or the villain on the brink of killing competition in the sector. Microsoft would have to comply since removing all of its products from British users would mean losing a huge market, Anne Witt, …

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Fortnite Maker Epic Games to Pay $520M Fine for Child Privacy, E-Commerce Violations
2 years ago

Fortnite Maker Epic Games to Pay $520M Fine for Child Privacy, E-Commerce Violations

News 18  

The maker of the popular Fortnite video game will pay $520 million in penalties and refunds to settle complaints revolving around children’s privacy and its payment methods that tricked players into making unintended purchases, U.S. federal regulators said Monday. The Federal Trade Commission reached the settlements to resolve two cases against Epic Games Inc., which has parlayed Fortnite’s success in …

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Fortnite maker to pay $520M for privacy, e-commerce abuses
2 years ago

Fortnite maker to pay $520M for privacy, e-commerce abuses

Associated Press  

The maker of the popular Fortnite video game will pay $520 million in penalties and refunds to settle complaints revolving around children’s privacy and its payment methods that tricked players into making unintended purchases, U.S. federal regulators said Monday. The Federal Trade Commission reached the settlements to resolve two cases against Epic Games Inc., which has parlayed Fortnite’s success in …

Players Game Epic App Million Fortnite Ftc
Fortnite maker to pay $520M for privacy, e-commerce abuses
2 years ago

Fortnite maker to pay $520M for privacy, e-commerce abuses

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy The maker of the popular …

Players Game Epic App Million Ftc Fortnite Video
My wallet was stolen at a bar. Then my identity theft nightmare began
2 years, 1 month ago

My wallet was stolen at a bar. Then my identity theft nightmare began

LA Times  

2019 was a pretty exciting year for me. Shima Baughman, a criminal law professor at the University of Utah’s College of Law, told me police don’t report identity theft cases to the FBI, but to the Federal Trade Commission. Another reason identity theft cases are on the rise: “It’s really difficult to get arrested for committing cyber crimes. Identity theft …

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There are no perfect solutions for identity theft. But experts and a victim have ideas
2 years, 1 month ago

There are no perfect solutions for identity theft. But experts and a victim have ideas

LA Times  

Identity theft happened to me. Notifications about data breaches are even murkier: Most are “not worth the paper they’re written on,” said Eva Velasquez, the CEO of the Identity Theft Resource Center. Velasquez said we need a system where you’re alerted any time someone uses your identity signifiers, like your Social Security number, to create a new bank account or …

Crime Security Social Data Information Social Security Victim
FTC plans inquiry into pharmacy benefit manager practices
2 years, 6 months ago

FTC plans inquiry into pharmacy benefit manager practices

Associated Press  

The Federal Trade Commission is starting an inquiry into the operations of pharmacy benefit managers who control access to prescription drugs for millions of Americans. Pharmacy benefit managers run prescription drug coverage for big clients that include health insurers and employers that provide coverage. FTC Chair Lina M. Khan said in a statement that PBMs have “enormous influence” over the …

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Antitrust Litigation Isn't Enough. Biden Needs to Go Further
4 years ago

Antitrust Litigation Isn't Enough. Biden Needs to Go Further

Wired  

Yesterday, the Federal Trade Commission and 46 states, the District of Columbia, and Guam filed parallel antitrust suits against Facebook for the acquisitions of WhatsApp and Instagram, and practices that excluded competitive threats in social networking and messaging. Though Democrats surely hope President-elect Joe Biden makes a clean break with the Trump administration on many issues, the new president would …

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