(Washington, D.C.) — The Pharmaceutical Care Management Association (PCMA) issued the following statement on today’s vote by the Federal Trade Commission (FTC):
“We agree with the Federal Trade Commission’s acknowledgement that market dynamics for pharmacy benefit companies have changed over the years, but not with their conclusion.
“In fact, the market for pharmacy benefit companies is dynamic, diverse, and has only become even more competitive, with 73 full-service pharmacy benefit companies operating in the U.S. The number of competitors in the pharmacy benefit market has grown by 10 percent in the last two years alone.
“In the absence of any new FTC guidance and considering the FTC’s previous actions, it is critical to carefully protect data that helps maintain a competitive marketplace. Therefore, PCMA will continue to cite previous FTC studies, statements, and enforcement actions that recognize the risks associated with proprietary pricing disclosure requirements that would limit pharmacy benefit companies’ ability to manage costs for employers and consumers and would only serve to empower drug companies to raise costs.
“To be clear, pharmacy benefit companies support transparency that enables patients, their physicians, and health plan sponsors to make informed decisions on how best to manage prescription drug costs and empowers policymakers with information they need to make the right policy decisions to lower drug costs for all Americans.
“We are confident that the FTC examination of our industry will once again validate that pharmacy benefit companies are reducing prescription drug costs for employers and patients.”
PCMA is the national association representing America’s pharmacy benefit companies. Pharmacy benefit companies are working every day to secure savings, enable better health outcomes, and support access to quality prescription drug coverage for more than 275 million patients.