FTC to Vote on Investigating Pharmacy Benefit Manager Practices
February 14, 2022
The US Federal Trade Commission (FTC) will vote on whether to examine the impact of pharmacy benefit managers (PBM) on drug prices and some kinds of pharmacies. The vote, planned for February 17th, is supported by several pharmacy trade groups who say that PBMs inflate drug prices and reduce competition by making decisions that disproportionately benefit large chain pharmacies.
According to Ed Silverman of STAT News, “Pharmacy benefit managers are arguably better known to the public for creating formularies, or lists of medicines that are covered by insurance. In the process, they collect rebates from drugmakers, a controversial tactic because the deals are blamed for rising drug prices, since the rebates and related discounts are kept confidential.”
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(Source: STAT News, February 11th, 2022)