Three major drug middlemen needlessly marked up generic drugs for cancer, HIV, and multiple sclerosis to generate $7.3 billion in revenue, The Federal Trade Commission (FTC) said in a report released today.

Regulators published their most detailed findings yet on how some of the nation’s largest companies profited from "excess" prescription price hikes of 1,000% or more.

Pharmacy benefit managers, which serve as the middlemen between drug makers, insurers and pharmacies, reaped $7.3 billion in revenue from marking up the prices of dozens of specialty generic drugs between 2017 and 2022,

From 2017 to 2022, the companies marked up prices at their pharmacies by hundreds or thousands of percent, netting them $7.3 billion in revenue.