Federal Trade Commission Foregoes Investigation on Pharmacy Benefit Managers

Washington, D.C. (February 17, 2022) — Today, the Federal Trade Commission (FTC) voted against launching an investigative study into the impact Pharmacy Benefit Managers (PBMs) have on prescription drug pricing, reimbursements, and other healthcare practices. The Coalition for PBM Reform participated in the FTC’s meeting, providing comment and context in favor of the study. Following FTC’s vote, the Coalition released the following statement:

“Today, the Federal Trade Commission (FTC) heard comments from pharmacy groups, patient advocates, and healthcare providers on the negative effects of Pharmacy Benefit Managers (PBMs). These pharmacy middlemen siphon billions in profits intended for patients and have been allowed to operate with little oversight for far too long,” said a spokesperson for the Coalition. “Unfortunately, despite hearing these concerns, a majority of the Commission felt the design of this particular study was not adequate and therefore voted against moving forward. Our Coalition is disappointed by this decision today, but looks forward to continuing to educate the FTC and others on PBM practices that harm patients, pharmacies and health care providers alike.”