FTC Begins Probe into Anticompetitive Practices of Leading PBMs

The US Federal Trade Commission has launched its investigation into the practices of the largest pharmacy benefit managers (PBMs) and how they affect drug prices. The commission voted 5-0 to investigate the claims that six of the largest PBMs deliberately push all smaller competitors out of the market, thereby jacking up prices. The unanimous vote comes only months after a previous proposal failed to gain a majority, with a vote count of 2-2

According to FTC Chair Lina Khan, the investigation is, “a critical step to increase scrutiny of powerful companies within the U.S. pharmaceutical system. While unknown to much of the American public, PBMs are powerful intermediaries at the center of the U.S. prescription drug system.””

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(Source: June 7^th, 2022)