PBMs continue to be under the microscope. The scrutiny comes on the heels of the FTC announcing that it was reversing its decision to shelf taking action on the issue. The FTA received more that 20,000 \nasty grams’ demanding that they live up to their mission of defending FAIR TRADE.
Organizations including the APhA, AHA, and NASP all joined hands to put the pressure on. It contributed to a meaningful turnaround with a “5-0 vote at the FTC to initiate a study to scrutinize the impact of vertically integrated pharmacy benefit managers on the access and affordability of prescription drugs….. as well as PBMs’ unfair, deceptive, or anticompetitive business practices have impacted pharmacies and patients.”
All that sounds promising….. but, where’s the teeth to ensure compliance? Well, the FTC would be given broad enforcement powers. Violations could incur civil penalties up to $1,000,000. Additionally, state attorneys general could bring civil actions if they believe that patient interests are being abridged. Whistleblowers are even protected.
Time will tell what the legislation looks like at the end of the Congressional process.
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APhA welcomes FTC study of PBMs’ anticompetitive business practices – urges agency to act
June 7, 2022 – WASHINGTON, D.C.—The American Pharmacists Association (APhA) issued the following statement applauding the FTC’s announcement of a 5-0 vote to initiate a 6(b) study “to scrutinize…..
CLICK HERE to read the full press release from APhA
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PBMs Continue to Draw Federal Scrutiny: PBM Transparency Act of 2022
Thursday, June 30, 2022As we noted in our last PBM Regulatory Roundup, there has been a wave of state regulation focused on PBM practices in the wake of Rutledge and Webhi. However, PBMs are also facing federal reform efforts. The Pharmacy Benefit Manager (PBM) Transparency Act of 2022 (the Act) was recently proposed in the U.S. Senate and ………………
CLICK HERE to read the full article posted by The National Law Review
