April 9, 2019

(Washington, D.C.) —Pharmaceutical Care Management Association (PCMA) President and CEO JC Scott released the following statement on today’s markup in the House Ways and Means Committee on prescription drug transparency legislation:

“We appreciate the Committee’s work to bring more transparency to drug prices, and in particular the Committee’s recognition that sensitive pricing information should not be disclosed in real time. The right kind of transparency can help patients, physicians, and plan sponsors make informed choices about cost when choosing a prescription drug.

We remain concerned that the current version of the legislation requiring additional reporting on negotiated rates may inadvertently provide drugmakers and drugstores access to competitive information, such as negotiated rebates, discounts, or price concessions. While this information is already appropriately reported to CMS, the legislation’s proposed level of disclosure could result in tacit collusion and lead to higher prescription drug prices for consumers.

The Federal Trade Commission has already explored this issue and concluded that this type of transparency would increase, not decrease, costs for consumers.

We look forward to working with the Committee and other Members of the House and Senate to address these concerns as this legislation advances.”

Click here to learn more: The Right Transparency on Prescription Drug Costs