Lawmakers Urge FTC to Release Report on Pharmacy Benefit Managers
A bipartisan, bicameral group of lawmakers has issued a call to the U.S. Federal Trade Commission (FTC) to release an interim staff report on pharmacy benefit managers (PBMs). The Hill reports that the lawmakers are pushing for the report to be made public ahead of an upcoming Jan. 14 open commission meeting where the FTC will consider issuing a second interim staff report on PBMs. This move comes after the FTC initiated an inquiry into PBMs in 2022 and released its first interim staff report last year.
The initial report revealed that dominant, vertically integrated PBMs are using their significant market share to profit off patients and independent pharmacists. FTC Chair Lina Khan emphasized how PBMs can exploit independent pharmacies, especially those in rural areas, and inflate drug costs, including overcharging patients for critical medications like cancer drugs. Although PBM reforms were initially considered for inclusion in a government funding bill last month, they were ultimately excluded.
Kroger Settles Lawsuit Over Alleged Role in Opioid Epidemic
In a separate development, Kroger has agreed to pay $110 million to settle a lawsuit filed by the state of Kentucky. The lawsuit accused the supermarket chain’s pharmacies of contributing to a deadly opioid epidemic by distributing hundreds of millions of addictive painkillers within local communities. Kentucky Attorney General Russell Coleman announced the settlement, highlighting that his state had chosen not to participate in a broader $1.4 billion deal reached by Kroger last year to resolve similar allegations from 30 states, counties, municipalities, and Native American tribes.
The lawsuit, filed in state court in February, alleged that Kroger’s Kentucky pharmacies dispensed over 11% of all opioid pills in the state between 2006 and 2019, totaling approximately 444 million opioid doses. Kentucky authorities claimed that Kroger should have recognized warning signs, such as unusually high prescription numbers, and taken action to prevent the diversion of drugs for illicit purposes.
Expert Perspective: Ed Silverman on Pharmaceutical Industry Coverage
Ed Silverman, a seasoned writer and Pharmalot columnist at STAT, has dedicated almost thirty years to reporting on the pharmaceutical industry. His in-depth analysis and insights into critical issues have made him a trusted voice in the field. Silverman’s commitment to uncovering the truth behind pharmaceutical practices has shed light on complex topics and held industry stakeholders accountable.
As a journalist, Silverman’s passion for investigative reporting has driven him to delve into the intricacies of drug pricing, regulatory policies, and ethical considerations within the pharmaceutical sector. His extensive experience and dedication to integrity have solidified his reputation as a reliable source of information for readers seeking clarity amidst industry complexities.
By providing nuanced perspectives and expert commentary, Silverman continues to shape the narrative surrounding pharmaceutical developments, ensuring that the public remains informed and empowered to engage with crucial healthcare issues.
