Who's to blame for high drug prices? Depends on who you ask.
The FTC has been exercising its agency muscles recently by going after both Big Pharma and Pharmacy Benefit Managers (PBMs) for their alleged roles in driving up drug prices.
For Big Pharma, the FTC has been going after so-called "junk" patents that are allegedly driving up American drug prices and stifling competition. https://bit.ly/3Y5lm3x
For PBMs, the FTC is suing the three big PBMs, alleging they're "steer[ing] patients to use more expensive drugs." https://bit.ly/3WoSXo5
There appears to be no love lost between Big Pharma and PBMs - both seem more than happy to throw each other under the bus: https://bit.ly/4bO3uh4
• The PhRMA (Pharmaceutical Research and Manufacturers of America ), the drugmaker's lobby, has praised the FTC's recent report on PBMs, calling them "[profiteering] corporate middlemen".
• The PCMA (Pharmaceutical Care Management Association), the PBMs' lobby, is placing drug prices squarely on big pharma - a report last year (sponsored by PCMA), found that "PBMs account for just 6% of the net cost of a prescription while manufacturers account for 65%".
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