If any industry deserves to face antitrust scrutiny, it’s this one. Putting a stop to PBMs’ anticompetitive practices would be far more fruitful than imposing new price controls or other regulations on manufacturers.
The Federal Trade Commission and U.S. Department of Justice recently kicked off a series of listening sessions to examine barriers to competition in the drug industry.
The title of the first session—”Anticompetitive Conduct by Pharmaceutical Companies”—made it seem that regulators would chiefly investigate biotech firms. Yet by the end, panelists had refocused the spotlight onto pharmacy benefit managers—and provided striking evidence that PBMs, not biotech companies, deserve most of the blame for the anticompetitive practices that lead to high drug prices.
If the FTC and DOJ heed the panelists’ warnings and crack down on this misbehavior, it could tangibly reduce drug costs for patients.
Nothing contained in this blog is to be construed as necessarily reflecting the views of the Pacific Research Institute or as an attempt to thwart or aid the passage of any legislation.
The Culprit Impeding Drug Competition Is Not Who The Feds Expected
Sally C. Pipes
If any industry deserves to face antitrust scrutiny, it’s this one. Putting a stop to PBMs’ anticompetitive practices would be far more fruitful than imposing new price controls or other regulations on manufacturers.
The Federal Trade Commission and U.S. Department of Justice recently kicked off a series of listening sessions to examine barriers to competition in the drug industry.
The title of the first session—”Anticompetitive Conduct by Pharmaceutical Companies”—made it seem that regulators would chiefly investigate biotech firms. Yet by the end, panelists had refocused the spotlight onto pharmacy benefit managers—and provided striking evidence that PBMs, not biotech companies, deserve most of the blame for the anticompetitive practices that lead to high drug prices.
If the FTC and DOJ heed the panelists’ warnings and crack down on this misbehavior, it could tangibly reduce drug costs for patients.
Read the Forbes op-ed here:
Nothing contained in this blog is to be construed as necessarily reflecting the views of the Pacific Research Institute or as an attempt to thwart or aid the passage of any legislation.