FTC Claims Pharmacy Benefit Managers Inflate Prices, Harm Smaller Drugstores: Report

Dominant pharmacy benefit managers (PBMs) are hiking the cost of drugs and squeezing independent pharmacies that many Americans depend on for essential care, according to a Federal Trade Commission (FTC) interim report released on July 9. The report examined the roles PBMs play in the pharmaceutical supply chain, highlighting their impact on drug prices, access to medications, and the viability of independent pharmacies. It follows an inquiry, launched in 2022, which revealed that the six largest PBMs manage nearly 95 percent of all prescriptions filled in the United States, with the three largest—CVS Caremark, Express Scripts, and OptumRx—overseeing nearly 80 percent of prescriptions....