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WASHINGTON — Pharmaceutical Care Management Association (PCMA) president and CEO JC Scott issued the following statement on the Federal Trade Commission (FTC) interim report on pharmacy benefit managers (PBMs):
JC Scott
“Today’s interim FTC report falls far short of being a definitive, fact-based assessment of PBMs or the prescription drug market. Members of the commission themselves disagree with the content of the report and the decision to release it. This report is based on anecdotes and comments from anonymous sources and self-interested parties, and supported only by two cherry-picked case studies that are implied to be representative of the entire market. The report completely overlooks the volumes of data that demonstrate the value that PBMs provide to America’s health care system by reducing prescription drug costs and increasing access to medications.
“Throughout this process, FTC leadership has shown that they have pre-determined conclusions that they want to advance irrespective of the facts or the data, and this report demonstrates an intention to follow through on their agenda regardless of the evidence.
“Nothing can change the fact that PBMs are operating in an extremely competitive market and have a proven track record of reducing prescription drug costs, notably by promoting lower cost generics and biosimilars. In addition, PBMs recognize the vital role pharmacies play in creating access to prescription drugs for patients. In support of that critical role, PBMs support rural pharmacies through innovative programs that increase reimbursements on prescription drugs. And independent data has shown that chain pharmacies are not being reimbursed at a higher level than independent pharmacies.
“The FTC has a history as an objective agency that relies on data and evidence, but they have failed to live up to that history today.”
