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Thom Tillis U.S. Senator for North Carolina
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PRESS RELEASES

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JAN 30 2024




TILLIS, COLLEAGUES LEAD RENEWED PBM ACCOUNTABILITY PUSH

WASHINGTON, D.C. – Senator Thom Tillis and his colleagues recently sent a letter
to Federal Trade Commission (FTC) Chair Lina Khan urging the FTC to complete
its investigation into pharmacy benefit managers (PBMs). The bipartisan group of
senators are also requesting a status update on the investigation, which has now
been open for over 18 months. 

“We support the Federal Trade Commission’s (FTC) issuance of a Section 6(b)
order and conducting a timely study of pharmacy benefits managers’ (PBM)
business practices. You wrote on November 8, 2022, that the FTC’s inquiry was ‘a
critical step in more closely scrutinizing business practices across the
pharmaceutical supply chain that can raise drug prices, limit access for
patients, and contribute to the shuttering of independent pharmacies across the
country.’ With the FTC’s inquiry reaching its year-and-a-half mark, we urge the
FTC to complete the study without delay,” the senators wrote. 

“There is widespread bipartisan support for examining PBM practices to determine
whether they are causing Americans to pay higher prices for prescription drugs.
This support is evident in legislation that has advanced through a number of
Senate committees this Congress. The Senate Committee on Commerce, Science, and
Transportation advanced S. 127, thePharmacy Benefit Manager Transparency Act,
which would authorize the FTC to hold PBMs accountable for unfair or deceptive
practices and add transparency to the PBM market,” the senators continued.

“With this bipartisan legislative action taking place, we urge the FTC to
complete its 6(b) study in a timely manner. In the interim, we request that you
publicly release a progress report on the status of your investigation. A
commitment to a timely study and interim progress report will provide
transparency, insight about possible competitive harms, and inform the
responsiveness and cooperation of impacted parties,” the senators concluded. 

Read the full letter HERE.

###


https://www.tillis.senate.gov/2024/1/tillis-colleagues-lead-renewed-pbm-accountability-push
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