Javier Barberena’s Post

The FTC's latest report sheds light on the business practices of PBMs and their impact on drug prices and accessibility. The investigation aims to bring transparency to the role of these middlemen in the pharmaceutical supply chain. Key issues include: ▪ Vertical integration and its effects on drug access and pricing ▪ Opaque pricing negotiations ▪ Practices limiting consumer choice and stifling competition Read more about it here: https://lnkd.in/e2KD7qWM

In the complex debate over inflated prescription drug prices, both Big Pharma and Pharmacy Benefit Managers (PBMs) are shifting blame onto each other. The Federal Trade Commission's recent investigation highlights unethical PBM practices that inflate drug costs, while pharmaceutical companies argue that PBM tactics contribute to high prices. However, both sides bear responsibility. To address this, government actions like the FTC’s legal efforts and proposed legislative reforms are essential to ensure affordability and transparency in the drug pricing ecosystem. MedMind is the solution we need! Providing affordable healthcare for all. Follow us for more as we continue to innovate and provide care for people in need. #MedMind #Pharma #HealthcareReform #DrugPricing For further details, check out the full article on BioSpace: https://lnkd.in/gtnJ-akm

FTC Sues Major Pharmacy Benefit Managers Over Inflated Insulin Prices The Federal Trade Commission (FTC) has filed a lawsuit against three major pharmacy benefit managers— Caremark Ltd, Express Scripts by Evernorth, and Optum Rx —alleging that their "anticompetitive and unfair" rebating practices artificially inflated insulin prices. According to the FTC, these companies steered patients toward higher-priced insulin to secure larger rebates from pharmaceutical manufacturers. This practice reportedly left many patients, particularly those ineligible for discounts, facing inflated costs. Together, these pharmacy benefit managers control around 80% of U.S. prescription drug sales, giving them significant market influence. The lawsuit marks a major step in addressing rising insulin prices, which have drawn criticism for being unaffordable for many diabetic patients. Read more at, https://lnkd.in/dT_KRM7S | Healthcare Dive, Informa, Rebecca Pifer #insuling #ftc #pharmatrade #drugs #pricing #pharma #industry #economy #diabetes #ncd #healthcare #business #news #thehealthcolossus

FTC Scrutinizes Pharmacy Benefit Managers' Role in Inflating Drug Costs and Harming Independent Pharmacies Pharmacy benefit managers (PBMs) are under investigation by the Federal Trade Commission (FTC) for allegedly inflating drug costs and harming independent pharmacies. The FTC is concerned about PBM practices, such as negotiating rebates from drugmakers and setting pharmacy reimbursements, which may lead to higher payments and favor PBM-affiliated pharmacies over independent ones. The top three PBMs – CVS Caremark, Express Scripts, and Optum Rx – manage nearly 80% of prescriptions, raising issues about market dominance and potential conflicts of interest. FTC Chair Lina Khan has highlighted the need to address these practices to ensure affordable healthcare. The FTC's interim report suggests that PBMs may be directing patients to their own pharmacies, resulting in significant profits from certain drugs and possibly excluding cheaper medications in favor of higher rebates from drug manufacturers. This scrutiny could disrupt the dominance of major PBMs, potentially benefiting independent pharmacies and increasing regulatory pressure on pharmaceutical companies. The investigation might lead to more transparent and competitive practices in the healthcare supply chain, with potential short-term stabilization of drug prices and long-term effects depending on regulatory actions and industry changes. # Thank you Marcela Santos for your submission!

"The Federal Trade Commission today published an interim report on the prescription drug middleman industry that underscores the impact pharmacy benefit managers (PBMs) have on the accessibility and affordability of prescription drugs. The interim staff report, which is part of an ongoing inquiry launched in 2022 by the FTC, details how increasing vertical integration and concentration has enabled the six largest PBMs to manage nearly 95 percent of all prescriptions filled in the United States." Learn more reading "FTC Releases Interim Staff Report on Prescription Drug Middlemen" #drugmiddleman #drugs #middleman #prescriptions #pharmacybenefitmanagers #pharmacy #yourhealthmatters #buylocal #shoplocal #yousaveonmeds

Rebates, transparency, consumerism in pharmacy and the solutions that are available NOW - Ferrin Williams, PharmD MBA digs in on these hot topics for self-insured plan sponsors. Read the article in Pharmaceutical Commerce Magazine: https://lnkd.in/e8FME-fw #selfinsured #pharmacybenefits #prescriptiondrugs

Michigan Aims To Cut Prescription Drug Costs With ‘Affordability Board’ The five-member board would be similar to new boards in eight other states. It would not have authority to directly regulate pharmaceutical prices charged by drug manufacturers but would attempt to control drug costs by capping the prices paid by state-licensed companies such as pharmacies, hospitals and insurance companies. Drug affordability boards in other states have not yet led to cost reductions but advocates are hopeful that they will eventually lower prices for consumers. Across the country, states that have created review boards include Ohio, Minnesota and Colorado. Some state boards have completed affordability reviews but, as of May, none had actually established a payment cap on any prescription drugs, according to a Harvard Medical School review. DAC Bringing The Nation’s First Flat Fee Pharmacy to Michigan & All 50 States - Covering Prescription Medications For A Low Monthly Fee of $20 Single Coverage - $30 Family Coverage. This Low Monthly Fee Doesn’t Just Cover 1 Prescription Per Month, It’s Covers As Many Prescription’s That You May Have. Call 226-568-9793 Speak Directly With Me Christopher. Visit The Website To Learn More. https://lnkd.in/g2haJNJ7

HHS finalized a process to resolve disputes between hospitals and pharmaceutical companies regarding drug pricing under the 340B program. The rule aims to address concerns by establishing a panel to handle disputes quickly and fairly. RxBenefits' expertise in both healthcare and pharmacy benefits uniquely positions us to provide the insights and recommendations needed to navigate these changes. We launched Optimize 340B for that express purpose - designed to maximize the value of 340B on the prescription plans of hospitals and 340B grantees. Contact us if you're interested! #340B #Pharmacy #DrugPricing

The FTC is preparing to file a lawsuit against three major pharmacy benefit managers (PBMs) for allegedly contributing to higher prices. The impact of a successful lawsuit could be manifold: -- Lead to more affordable access to life saving medications for patients -- Level the playing field for the independent "unaffiliated" pharmacies that have been battling with disproportional reimbursement as compared to "affiliated"/self owned pharmacies -- Potential to change the dynamics of drug pricing negotiations for pharmaceutical and biotech companies.

In the most recent episode of #OverTheCounter, Johnny Ray Garcia, senior director of policy at the Pharmaceutical Care Management Association (PCMA), sat down with Drug Topics to discuss the common misconceptions surrounding his organization and #PBMs as a whole, as well as the work they do to support 17 of the 73 PBMs in the #market today. While PBMs and the #PCMA are currently on the hot seat when it comes to #reform within the #prescription drug market, Garcia tried to shed some light on what exactly he thinks is the root cause of rising #drug costs. https://lnkd.in/eJd2jQqa