FTC Ponders Issuing Warning Statement to PBMs

The FTC will continue its ongoing examination of the pharmacy benefit management (PBM) industry at an open meeting July 20 when it decides whether to issue a warning to PBMs to stop relying on older FTC advocacy materials that opposed mandatory PBM transparency and disclosure requirements.

The FTC had previously announced an inquiry into PBMs and their impact on the cost of prescription drugs, requiring the six largest PBMs and two largest group purchasing organizations to provide records of their business practices.

The FTC’s “Statement Withdrawing Prior PBM Advocacy” is not available currently as it is “non-public information until it has been publicly voted on,” an FTC spokesperson told FDAnews.

However, the notice of the upcoming meeting explained that the commission’s statement cautions “against reliance on prior advocacy statements and studies related to pharmacy benefit managers that no longer reflect current market realities.”

For information on the July 20 meeting, click here.

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