The Food and Drug Administration and Federal Trade Commission are reportedly joining forces to take on high prescription drug prices, Bloomberg Law reports.
Despite the two agencies having different overall missions, the partnership could apply more pressure on brand drugmakers and pharmacy benefit managers to rein in costs.
While neither agency plays a direct role in drug prices, the FDA signs off on therapies and the FTC combats anti-competitive strategies through litigation.
“I would say this is probably the most coordination we’ve seen between the agencies,” Association for Accessible Medicines Vice President of Federal Government Affairs Michael Brzica tells Bloomberg Law.
To read the full report on Bloomberg Law, click here.