Drug prices
The Pharmaceutical Benefits Manager Settlements Are a Novel Advance for the FTC and Competition Enforcement
In February, the Federal Trade Commission settled with pharmaceutical benefits manager (PBM) Express Scripts. The FTC had sued Express Scripts and two other large PBMs under the long dormant Section 5 of the FTC Act, which targets “unfair methods of competition.” The settlement suggests that the FTC may succeed in addressing the convoluted contracts between PBMs, drug manufacturers, health insurers, and employers that drive up drug prices for Americans. It also opens unchartered territory for antitrust enforcement and the limits of Section 5, argue Fiona Scott Morton and Mariah Smith.
Competition Problems in Prescription Drug Market
Although not the sole cause of high prescription drug costs, abusive practices that distort competition contribute to the problem. Too many companies exclude competition...
The Generic Pharmaceutical Market Needs Competition. Non-Profits Can Provide It
JustMedicine is a non-profit that aims to introduce competition into the generic drug market by sponsoring generic entrants. The organization’s CEO explains why non-profit...
