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Published on Friday, February 18, 2022

APhA expresses disappointment at failed Federal Trade Commission vote to study PBMs’ anticompetitive business practices

APhA urges the Federal Trade Commission (FTC) to reach a consensus to not only study, but fix the broken PBM marketplace

WASHINGTON, D.C.—The American Pharmacists Association (APhA) issued the following statement in response to the FTC’s stalemate 2-2 vote today, which would have supported study of the competitive impact of contractual provisions, reimbursement adjustments, and other PBM practices affecting drug prices, including those practices that may disadvantage independent or specialty pharmacies.

While we are disappointed with today’s failed vote before an incomplete FTC, every commissioner at today’s meeting expressed interest in a new study of PBMs. Accordingly, we strongly urge the FTC to come to a quick consensus regarding a study that will not only examine PBMs’ anticompetitive practices, but end them. PBMs are putting independent pharmacies out of business and creating “pharmacy deserts” in minority and underserved communities, where the neighborhood pharmacy may be the only health care provider for miles.

While testifying at the FTC hearing today, APhA CEO Scott Knoer’s said “While we support a new study, we already have mountains of data from Medicaid and commercial plans on PBMs’ uncompetitive and deceptive trade practices that target patients with chronic conditions and force them to use PBM-owned specialty, mail order, and network pharmacies. The FTC should take action now, follow-the data and break them up!”

“We are proud of our many APhA members who testified with me before the FTC today, and we’ll continue our efforts to work with our pharmacy partners to fight for our patients, restore competition, and fix the broken PBM marketplace,” Knoer concluded.

Read Scott Knoer’s full remarks before the FTC.

About APhA:
APhA is the only organization advancing the entire pharmacy profession. Our expert staff and strong volunteer leadership, including many experienced pharmacists, allow us to deliver vital leadership to help pharmacists, pharmaceutical scientists, student pharmacists, and pharmacy technicians find success and satisfaction in their work while advocating for changes that benefit them, their patients, and their communities. For more information, please visit www.pharmacist.com.

 

CONTACT:
media@aphanet.org

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