Foot Locker, Teamsters drop drug-benefit managers over costs, WSJ says

Employers and unions are getting fed up with the companies they have used to control spending on prescription drugs as their costs continue to soar, Melanie Evans of The Wall Street Journal reports. Foot Locker (FL) dropped UnitedHealth’s (UNH) OptumRx last year while Teamsters fund recently reupped with its replacement for CVS Health’s (CVS) Caremark. A main concern is they are being told to cover costlier drugs when less-expensive options are available. The employers and unions worry they are getting stuck with higher-cost drugs so the drug-benefit managers can pocket higher rebates. Meanwhile, Caremark, OptumRx and Cigna Group’s (CI) Express Scripts claim they save customers money and give employers information and options to tailor drug benefits to suit their needs.