The Federal Trade Commission (FTC) on Thursday voted, 3-0, “to issue a statement cautioning against reliance on prior advocacy statements and studies related to pharmacy benefit managers (PBM) that no longer reflect current market realities.”
The statement warns against relying on specific FTC documents from 2004 to 2014 that advocated against proposals to increase regulatory oversight and transparency of PBMs.
“The Commission is currently engaged in a major study of the PBM industry, undertaken in large part due to the Commission’s recognition that substantial changes have taken place over the last two decades,” the FTC statement said. “This study will enable the Commission to consider the extent to which prior conclusions about the PBM industry remain valid. Accordingly, until it is completed, reliance on the Commission’s conclusions in certain prior statements and reports may be misplaced.”
POLITICO reported that FTC Chair Lina Khan said further, “We want to make sure that prior statements the FTC made are not being relied on in a way that could be impeding ongoing efforts at the state or even at the federal level.”
Last week, NACDS shared with members the FTC’s announcement that it would vote on this statement.
