Lexology July 31, 2024
Last week, Vermont’s Attorney General filed suit against two pharmacy benefit managers (“PBMs”), alleging that the PBMs “are driving up drug prices and foreclosing patients’ access” to life-saving prescription drugs. The lawsuit brings state antitrust claims under the Vermont Consumer Protection Act, contending that the PBMs engaged in misrepresentation and unfair practices which both inflated the cost of and reduced access to prescription drugs. The complaint alleges that these two PBMs control 95% of the Vermont pharmacy benefit market.
The complaint calls out PBMs as the “literal hub of the healthcare universe[,]” underscoring the state’s theory that concentration has allowed PBMs to “distort[ ] the market to their benefit at the expense of Vermont patients and payors.” The lawsuit contends...
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