Understanding Competition in U.S. Prescription Drug Markets: Entry and Supply Chain Dynamics #00361

Submission Number:
00361
Commenter:
Vijay Maktal
State:
New Jersey
Initiative Name:
Understanding Competition in U.S. Prescription Drug Markets: Entry and Supply Chain Dynamics
I am an indepedent pharmacy owner in NJ. There have been countless times where I have been forced to dispense medication at a loss, with sometimes that loss being $100 or more! Since the PBM's decide what the reimbursement rate is, my hands are tied when price spikes occurs due to drug shortages and other events that cause fluctuations in price. Some generic products that cost pennies just a couple years ago are now hundreds of dollars due to price gouging from a monopoly on the drug, etc... Furthermore, it doesn't make sense that American pharmacies are paying far more for the exact same product that would cost a fraction in other developed countries, such as in Canada and parts of Europe. For-profit healthcare does not work, as there is always somebody's pockets being lined. I am further cautious about the recent CVS-Aetna merger and the effects it will have on the industry. If they should be allowed to merger, than independent pharmacies should be able to collectively bargain to help reduce our costs (hint: we can't due to current laws prohibiting that).