Alexandria, Virginia, May 24, 2022 (GLOBE NEWSWIRE) — The National Community Pharmacists Association strongly supports the Pharmacy Benefits Manager Transparency Act, new legislation presented today by Sens. Maria Cantwell (D-Wash.) and Chuck Grassley (R-Iowa). The bill would give the Federal Trade Commission and state attorneys general the ability to sanction and/or bring legal action against pharmacy benefit managers for certain unfair or deceptive business practices in the commercial space.
“PBM insurers have manipulated our complex healthcare system so they can set competitor prices, dictate competitor reimbursement, use competitor data to direct patients to retail, specialty and mail order outlets affiliated with PBM, and limiting where and what consumers can buy,” said NCPA CEO B. Douglas Hoey, Pharmacist, MBA. “There are plenty of PBM actions that policymakers and regulators need to address in order to mitigate the havoc they have wrought on patients and independent small business pharmacies. The NCPA is grateful to the senses. Cantwell and Grassley for their continued support of PBM reform. We are proud to support their latest effort, the Pharmacy Benefits Manager Transparency Actand will work to help it progress.
Cantwell is chairman of the US Senate Commerce Committee. Its Subcommittee on Consumer Protection, Product Safety, and Data Security recently held a hearing that considered steps Congress can take to increase drug pricing transparency, require PBMs to operate fairly, and ensure that the FTC has the authority it needs to end unfair practices in the prescription drug market. the Pharmacy Benefits Manager Transparency Act, which falls under the purview of the trade committee, is a natural next step in the legislative process. Grassley, like Cantwell, has worked for years to bring more transparency to health care, limit anti-competitive PBM practices, and benefit Americans through greater oversight.
Click for the Sens press release. Cantwell and Grassley, which includes a link to the text of the bill.
Click for NCPA support letter.
Founded in 1898, the National Community Pharmacists Association is the voice of the community pharmacistrepresenting nearly 19,400 pharmacies that employ 215,000 people nationwide. Community pharmacies are rooted in the communities where they find themselves and are among America’s Most Accessible Healthcare Providers. To learn more, visit www.ncpa.org.