Advocacy

FTC Report Details PBM Abuses, Aligns with ASHP Testimony

Published: July 9, 2024
Advocacy Breaking News

Today, the Federal Trade Commission (FTC) released an interim report detailing the impact that pharmacy benefit managers (PBMs) have on patient access to medications. The report, which is part of an ongoing inquiry ASHP has called for since 2022, focuses on the abusive practices of PBMs. 

Specifically, the report identifies how PBMs:

  1. Exercise control over what drugs are available and at what price
  2. Favor their own affiliated pharmacies, as ASHP has long opposed through our efforts to prohibit payer-mandated white bagging
  3. Negotiate rebates with manufacturers that steer patients away from lower cost generics and biosimilars

PBM reform is one of ASHP’s long-standing advocacy issues. ASHP previously testified before the FTC and wrote to the FTC commissioner highlighting these dangerous PBM practices.

ASHP applauds the FTC for its ongoing work on PBMs and encourages the commission to continue prioritizing patient safety and access to medications by curbing abusive PBM practices. ASHP also supports legislation advancing in both chambers of Congress to rein in PBMs. We will continue to update members on the FTC’s ongoing inquiry into PBMs and congressional action on PBM reform.

Posted July 9, 2024
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