Major pharmacy group criticizes FTC decision on PBMs

The trade group representing community pharmacists lambasted the FTC’s recent ruling regarding the contracting practices of pharmacy benefit managers (PBMs).

The FTC voted 2-2 on Thursday to not investigate PBMs' competitive impact on contractual provisions, reimbursement adjustments, and other practices affecting drug prices, including those practices that may disadvantage independent or specialty pharmacies.

“Two members of the FTC just let the worst actors in the market off the hook,” B. Douglas Hoey, CEO of the National Community Pharmacists Association (NCPA), said in a prepared statement.

 “After hearing hours of testimony by community pharmacists and patients, all of whom painted the same shocking picture about PBM abuse, and not a single witness there to defend the PBM industry, it is inexplicable that two members of the commission could vote against the study. Their decisions could not possibly have been based on what was heard today," Hoey went on to say.

Hoey added that while he is grateful to FTC Chairwoman Lina Khan for bringing the issue to a vote, he said that NCPA will demand that the topic be revisited as soon as possible.