ATAP Applauds FTC Action Against Pharmacy Benefit Managers
ATAP Applauds FTC Action Against Pharmacy Benefit Managers
Calls on Congress to Pass Legislation to Protect Patients
[Washington, DC] [September 20, 2024] -- The Alliance of Transparent and Affordable Prescriptions (ATAP), a coalition of more than 20 patient advocacy, medical professional and healthcare organizations committed to addressing prescription drug affordability, applauds the Federal Trade Commission (FTC) for filing lawsuits against the nation’s largest pharmacy benefit managers (PBMs) – Optum Rx, Caremark, and Express Scripts – and the associated group purchasing organizations for driving up the cost of essential medications like insulin.
“Today’s action by the FTC is a crucial step toward holding PBMs accountable for their harmful practices, which have for too long put profits over patients,” said Dr. Robert Levin, ATAP President. “For years, patients and healthcare providers have witnessed the unchecked power of PBMs, whose practices have caused insulin prices to skyrocket and forced millions of Americans to make impossible choices between their health and their basic needs.”
The lawsuits highlight the urgent need for Congress to act. PBMs have played a significant role in increasing prescription drug costs, especially for life-saving medications. While today’s lawsuits are an important milestone, legislative action is the only way to ensure long-term protection for patients
“We urge Congress to seize this moment and pass comprehensive and meaningful PBM reform legislation,” Dr. Levin continued. “By enacting laws that increase transparency, limit PBM profiteering, and protect patients from price manipulation, Congress can rein in an industry that has for too long escaped accountability.”
In addition to transparency and accountability, ATAP emphasizes the importance of implementing key reforms such as delinking pharmacy reimbursement from list prices and mandating rebate pass-through policies. These changes are essential to prevent PBMs from inflating drug costs for personal gain while ensuring that savings from manufacturer rebates directly benefit patients at the pharmacy counter.
"Polices that de-link PBM income from drug price and pass rebate savings negotiated by PBMs to patients are vital components of PBM reform," said Dr. Levin. "By addressing these mechanisms, we can remove the financial incentives driving up prescription costs and guarantee that patients see real savings."
ATAP remains committed to working with legislators to advance policies that put patients first and restore fairness in the prescription drug market.
About ATAP
ATAP was created in 2017 with a mission to address prescription drugs costs and patient access to affordable treatment by regulating PBM practices and reforming the drug industry through educational outreach and grassroots advocacy initiatives at both the state and federal levels. Driven by the reality that many patients struggle to afford their medications, the physician and patient advocacy organizations joined to shine a light on the abusive practices of PBMs.
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