PBM
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.
Preventing Drug Shortages and Saving Lives: The Role of Quality and Reliability Standards
Prescription drug shortages have become more common in recent years, interrupting usual medical care and increasing patient risk and system costs, but they are...
How the FTC Protected the Market Power of Pharmacy Benefit Managers
Pharmacy Benefit Managers (PBMs) were established in the 1960s to control drug costs but have since morphed into one of the most highly concentrated...
The Amazon of Health Care: How CVS Is Evolving From a Drug Store Chain into a Tech Platform
CVS is built on a dominant chain of drug stores, but it is now trying to turn itself into a "uniquely powerful platform" for...
