FTC Faces Pressure from Pharmacies to Act on High Drug Costs

As the cost of prescription drugs continues to rise, the Federal Trade Commission (FTC) is under increased pressure from independent pharmacies and the Biden Administration to clamp down on pharmacy benefit managers (PBMs). Smaller, independently-run pharmacies argue that PBMs’ favorable affiliations with larger pharmacies pushes them from the market. As a result, they and others are asking the FTC to perform a study on PBMs and market competition.

According to Bloomberg Law, “Matthew Seiler, general counsel for the National Community Pharmacists Association, said he expects the study will happen—either with the support of a Republican commissioner or when the fifth and final commissioner is confirmed by the Senate. Republican FTC Commissioner Noah Phillips recently told Bloomberg Law that he would support a more “rigorous” study, and the Senate Commerce Committee on Thursday is scheduled to consider the nomination of Alvaro Bedoya to be the fifth commissioner.”

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(Source: Bloomberg Law, March 3^rd, 2022)