Pharmacists United for Truth & Transparency
Understanding Competition in U.S. Prescription Drug Markets: Entry and Supply Chain Dynamics
We are Pharmacists United for Truth and Transparency (PUTT), a growing coalition of U.S. independent pharmacy owners. We have seen and experienced first-hand the damage caused by big business Pharmacy Benefit Managers (PBMs). PBMs portray themselves as helpful, cost-savings third-party administrators. In fact they are industry middlemen profiting at every stage of the prescription drug supply chain from the manufacturers and the dispensers to the plan payers and patient. PBMs engage in questionable, non-transparent activities that can best be described as anti-competitive and designed to bully independent pharmacies out of business. We are asking the FTC to intervene in the enormous, unchecked power PBMs hold over pharmacy care. A small number of healthcare organizations presiding over tens of millions of lives should never have the kind of power PBMs currently hold over the American public. We have attached a detailed statement explaining how PBMs abuse the system to their own benefit, and a compilation of complaints against one of the nation's largest PBMs -- demonstrating the extent to which patient care cannot be forced into a one-size-fits-all system in the name of "containing costs". We thank you for your consideration of this important topic and look for the FTC to restore a fair, working healthcare system in which there is room for accountability, transparency and equity for all participants.