BESSEMER, Ala. (July 23, 2024) – Officials with American Pharmacy
Cooperative, Inc. (APCI) applauded the introduction of the Pharmacists Fight
Back Act in Congress today, and urged lawmakers to swiftly pass the bill.
The Pharmacists Fight Back Act ends abusive pharmacy benefit
manager (PBM) practices in federal programs by moving to a transparent PBM
model that caps costs for patients, ensures patients get the benefit of drug
manufacturer discounts, ensures patient choice of pharmacy, and prohibits other
PBM abuses.
The bipartisan bill was sponsored in the U.S. House of
Representatives by Rep. Jake Auchincloss (D-MA) and
Rep. Diana Harshbarger (R-TN). The bill addresses
prescription drug coverage in Medicare Part D and Medicare Advantage plans,
Medicaid managed care, Tricare, and the Federal Employee Health Benefits
program.
Following the recent release of a Federal Trade Commission interim report on pharmacy benefit manager (PBM) practices that increase prices
for prescription drugs, along with blockbuster articles by the New York Times
and the Wall Street Journal exposing the misdeeds of large PBMs, there is no
better time for meaningful and comprehensive PBM reform that protects patients,
pharmacies, and taxpayers from PBM abuses.
“APCI could not be more grateful to Representatives Harshbarger and Auchincloss for
their courage in taking on the unfair business practices of some of the largest
companies on earth and for doing so in such a comprehensive manner,” said APCI
CEO Tim Hamrick. “At a time when patients are struggling to afford their
medication and community pharmacies are shuttering their doors at record pace,
this legislation looks to comprehensively right the ship with a transparent
prescription drug pricing model that takes drug pricing out of the hands of the PBMs.”
“Large PBMs were entrusted with administering drug benefits
under federal healthcare programs, and they have betrayed that trust,” said
APCI Vice President of Healthcare Policy Greg Reybold. “The Pharmacists Fight Back Act is the
blueprint for stopping unfair PBM practices in their tracks and holding PBMs
criminally responsible for violations of the law.”
APCI looks forward to
supporting this legislation in every way possible and is proud to have worked
on its introduction with Representatives Harshbarger and Auchincloss. In light of the protections this legislation
affords patients, community pharmacies, and taxpayers, it is APCI’s hope that
this legislation will be promptly considered and passed by Congress.
About APCI
APCI is a member-owned cooperative of independently owned
community pharmacies in 31 states. Established in 1984 and headquartered in
Bessemer, Ala., APCI is recognized as a leader in the fight for prescription
drug pricing transparency and reform. APCI’s advocacy team includes long-time
Director of Legislative Affairs Bill Eley; Vice
President of Healthcare Policy and General Counsel Greg Reybold;
and its lobbying team at Arent Fox.