PBMs to FTC: We are the best hope for lowering prescription drug cost

PBMs to FTC: We are the best hope for lowering prescription drug cost

Is the FTC singling out the only actors in the pharmaceutical supply chain whose fundamental role is to negotiate lower drug prices for patients?

Recently, JC Scott, President & CEO of the Pharmaceutical Care Management Association (PCMA), the association representing America’s pharmacy benefit managers, participated in a Federal Trade Commission “listening forum” focused on competition in the healthcare industry.

He came away concerned, but still very much committed that PBMs are the path forward in making prescription drugs more affordable for everyone.

As he noted in his presentation to the FTC:

Let’s be clear: PBMs are not opposed to the FTC studying our industry. We simply believe the right course of action for the commission would be to broaden the scope of a study to look at the entire prescription drug supply and payment chain holistically. The objective should be to understand the role of every actor in our current system and the impact of each on consumers.  

I am confident that any FTC study on the prescription drug supply and payment chain will confirm that PBMs are fulfilling their primary mission to lower prescription drug costs for consumers and health plan sponsors, as prior studies by the FTC have confirmed.

Here at VativoRx, we share this deep focus on affordability and access, as noted in these recent articles:

Photo by James Yarema on Unsplash

Martin Shields / Alamy Stock Photo

Humira – The End of an Era

In January 2023, the first biosimilar version of Humira, which is a widely used injectable drug for inflammatory diseases, was approved, marking the end of AbbVie’s two-decade market exclusivity. Humira is used to treat conditions like rheumatoid arthritis, psoriatic arthritis, Crohn’s disease, and ulcerative colitis, and it works by targeting certain proteins in the immune system.

Read More »

Biosimilars — Similar But Not Identical

You may have never heard of biosimilar drugs and that’s probably because they are not commonly prescribed in the United States even though they have been around for over 20 years. So, what are biosimilar drugs? A biosimilar drug is no different in terms of safety and effectiveness than a biologic product, also known as a reference product, and while highly similar it is not identical.

Read More »

Lower Cost Prescription Drugs from Canada, Is It Legal?

In the early 2000s, the FDA set up guidelines in the Regulatory Procedures Manual (RPM) that permitted prescription drugs to be imported from other countries if the patient met very strict guidelines. Just stating that the patient needed the drug due to cost savings was not a justification to obtain the drug.

Read More »