Consumer groups urge rejection of drug benefit manager merger

{mosads}The merger would give the new PBM “the unique power to increase the cost of specialty pharmaceuticals at will,” the letter states.

“It is important to point out that the specialty pharmacy market is a relatively new and still developing area, and no single business model has proven to be most efficient. The innovation necessary to help this market to evolve in the most cost-effective manner would be greatly crippled by the merger.”

Proponents of the merger say both consumers and taxpayers stand to gain as pharmacy benefit managers force pharmacies and other drug distributors to become more efficient.

The letter is signed by Consumers Union, the Consumer Federation of America, the National Consumers League, U.S. PIRG and the National Legislative Association on Prescription Drug Prices. The latter is a nonprofit organization of state legislators devoted to keeping drug prices low for state healthcare programs. 

The letter was sent ahead of Tuesday afternoon’s hearing on the merger by a House antitrust panel. Lawmakers cannot block the merger, but regulators may take their concerns into account.