AMAC and Free2Care Coalition Welcome FTC Investigation into PBMs – AMAC
The survey requires the six largest Pharmacy Benefit Managers (PBMs) – which control 95% of prescriptions – to provide information and records regarding their business practices.
Senior Vice President of AMAC Action, Andy Mangione issued the following statement in response to the FTC’s vote:
“Americans are fed up with high drug prices and drug shortages that are a direct result of anti-competitive behavior and consolidations between PBMs and insurers.
This is a crucial first step in reforming the system; a clear understanding of how these intermediaries operate would provide transparency and insight into how patients are being harmed.
Free2Care Director David Balat issued the following statement in response to the FTC’s vote:
“Sunlight is the best disinfectant. The FTC must now extend the same investigation to group purchasing organizations (GPOs).
Free2Care will continue to focus on increasing transparency, removing perverse incentives, and creating change that leads to more competition.
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