The Executive Director of the PBM Accountability Project, Doug H. Dority, submitted public comment to the Federal Trade Commission (FTC) urging the FTC to examine harmful PBM practices in order to restore effective competition and to address costly dysfunctions in the PBM marketplace. By holding PBMs accountable, prescription drug savings from very high PBM profits can be redirected back to consumers.
Dority wrote: “The drug cost issue simply cannot be solved unless the perverse incentives PBMs have to drive prescription drug prices continuously higher are directly addressed.”
The full text of the letter to the FTC can be found here. Full text of a recently released report, Understanding the Evolving Business Models and Revenue of Pharmacy Benefit Managers, which is referenced in the letter to the FTC, can be found here.