On July 9, 2024, the Federal Trade Commission (FTC) released an interim report highlighting the significant impact of pharmacy benefit managers (PBMs) on the accessibility and affordability of prescription drugs. The report, part of an ongoing inquiry since 2022, reveals that the top three PBMs process nearly 80 percent of prescription drugs in U.S (the top six process more than 90 percent), leveraging their vertical integration and market concentration to profit at the expense of patients and independent pharmacists. The FTC finds that PBMs raise drug costs, overcharge patients, and impose unfair contract terms on independent pharmacies, interfering with their ability to stay in business. The report also indicates that some PBMs have not fully complied with FTC orders, hindering the Commission’s investigation. However, if any of the companies do not fully comply with the orders or attempt to delay further, the FTC has the authority to take them to district court to enforce compliance. View the report.
Last Updated on July 11, 2024 by Aimed Alliance
