FTC Passes on Review of Highly Consolidated Pharmacy Benefit Managers
By Consumers For Quality Care, on March 2, 2022
A recent attempt to have the Federal Trade Commission (FTC) study pharmacy benefit managers (PBMs) failed, according to reporting by Axios.
Many critics of PBMs believe the consolidation of the industry has led to higher prescription drug prices for consumers and had hoped to see an antitrust review of the industry. Right now, three companies control about 80 percent of the market, with much of this consolidation occurring in the last 15 years.
CQC urges regulators to watch out for consolidations in health care, which often result in fewer choices, higher prices, and decreased quality of care, having a profound impact on consumers.