Independent Pharmacy Cheers FTC Action Against PBMs

The National Community Pharmacists Association issued the following statement from CEO B. Douglas Hoey today in response to the FTC’s lawsuit against the country’s three dominant pharmacy benefit managers for favoring high-priced drugs over cheaper alternatives to generate bigger rebates.

“One of the many ways that PBMs manipulate the system against patients, taxpayers, and small pharmacies is the rebate game. The PBMs determine which drugs are covered by health insurance plans. They get bigger rebates for the most expensive drugs. Naturally, the most expensive drugs end up on the formularies even when there are cheaper alternatives. Patients end up paying more. Employers end up paying more. Taxpayers end up paying more. And more small business pharmacies are driven out of business. The rebates create a powerful incentive for higher drug prices, which is completely upside-down. We are very pleased that the FTC is seeking to end that practice.”