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.
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