BioPharma Dive July 9, 2024
On Tuesday, regulators updated the public on their almost three-year-old probe of PBM’s business practices.
The Federal Trade Commission on Tuesday released a long-awaited report criticizing the pharmacy benefit manager industry for manipulating the drug supply chain to profit at the expense of patients and independent pharmacists.
The report, which focuses on PBMs’ pharmacy practices, builds on research finding the companies are contributing to higher drug costs. It could increase pressure on Congress to curb business practices in the sector alleged to be anticompetitive, after momentum around PBM reform fizzled out late last year.
In the report, the FTC highlights how consolidation has created a market where the six largest PBMs control almost 95% of the prescriptions filed in the...
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