Major pharmacy group criticizes FTC decision on PBMs

Anthony Vecchione | | Health Exec | Policy & Regulations
Pharmacy

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.

Anthony Vecchione

Related Content

HHS ‘dramatic restructuring’ begins as employees turned away by security
California ballot measure named after Luigi Mangione lands on AG’s desk
FDA announces new recall of Medtronic surgical devices over safety concerns
300+ groups urge Senate GOP to reject Medicaid cuts
HHS to cut 10,000 jobs during 'dramatic restructuring'
Trump selects GOP general counsel for HHS Inspector General

Around the web

Cardiovascular Business
ACC urges RFK Jr. to make Medicare reform a priority, warns against mass layoffs

The American College of Cardiology has sent a letter to HHS Secretary Robert F. Kennedy Jr. that outlines some of the organization’s central priorities and concerns. 

Radiology Business
FDA announces recall of Medtronic interventional radiology devices after 17 injuries, 4 deaths

One product is being pulled from the market, and the other is receiving updated instructions for use.

AI in Healthcare
What federal regulators can learn from the states about AI oversight

If the Trump administration continues taking a laissez-faire stance toward AI—including AI used in healthcare—why not let the states go it alone on regulating the technology?