Protect Your Constituents - Rein In Pharmacy Benefit Managers

I am your constituent and I want you to be aware of a new report published by the FTC regarding drug pricing by pharmacy Benefit Managers (PBMs). Here is a link to the report, https://www.ftc.gov/news-events/news/press-releases/2025/01/ftc-releases-second-interim-staff-report-prescription-drug-middlemen. Significant price markups: The Big 3 PBMs imposed markups of hundreds and thousands of percent on numerous specialty generic drugs dispensed at their affiliated pharmacies—including drugs used to treat cancer, HIV, and other serious diseases and conditions. Dispensing the most profitable drugs: A larger, disproportionate share of commercial prescriptions for specialty generic drugs marked up more than $1,000 per prescription were dispensed by the Big 3 PBMs’ affiliated pharmacies compared with unaffiliated pharmacies. The Big 3 PBMs’ affiliated pharmacies generated over $7.3 billion of dispensing revenue in excess of their estimated acquisition cost, as measured by the National Average Drug Acquisition Cost (NADAC), on specialty generic drugs over the study period. PBM-affiliated pharmacy dispensing revenue in excess of NADAC increased dramatically at a compound annual growth rate of 42 percent from 2017-2021. In the aggregate, the top 10 specialty generic drugs generated $6.2 billion of dispensing revenue in excess of NADAC (85 percent of total). They also used spread pricing - charging insurance companies more for drugs than they paid the pharmacy. Look, we your constituents are being cheated and we need you to protect us. If we had Universal Healthcare we could negotiate all drugs for everyone and that would fix the problem. If you can’t do that for us then I want you to rein in PBM fleecing of the public and fast. Thank you. https://dl-rapidbot.s3.us-west-2.amazonaws.com/attachments/1/8aaa/325f/8aaa325f-a4ed-4a4a-a0f4-ac379b10bcd7.php