Contact: Alec Saslow, (202) 789 – 7751, ASaslow@Fenton.com
Statement of Pharmacists United for Truth and Transparency
A proposed merger between two of the nation’s biggest pharmacy benefits mangers (PBMs), Express Scripts Inc. and Medco Health Solutions Inc., has drawn criticism from Sen. Herb Kohl (D-WI), the chairman of the Senate Antitrust Committee. In a letter to the Federal Trade Commission last week, Kohl concluded that the merger “presents serious competition concerns which should be examined carefully by the FTC.”
Following the letter, Dave Marley, President of Pharmacists United for Truth and Transparency, made the following statement:
“We applaud Senator Kohl’s leadership and share his deep concern about the merger between Express Scripts and Medco. The merger would not only consolidate industry competition, but help facilitate the PBM model based on a lack of transparency that increases drug prices for consumers.
Rather than allow giant pharmacy benefits mangers to add to their outsized power, we should take a careful look at existing PBM practices and the markup prices they charge clients for prescription drugs. While the largest PBMs in the country line their pockets with profits, plans sponsors and consumers are paying the price.”
To schedule an interview with Dave Marley, contact Alec Saslow at (202) 789 – 7751 or ASaslow@Fenton.com
To view Sen. Kohl’s letter to the FTC click here: http://www.ncpanet.org/pdf/leg/feb12/esi_medco_letter_ftc.pdf
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About Pharmacists United for Truth and Transparency:
Pharmacists United for Truth and Transparency is an advocacy group of nearly 1,000 independent pharmacists and pharmacy owners in 46 states. The coalition is dedicated to exposing secretive and unethical practices in the pharmacy benefit manager (PBM) industry—practices that harm consumers, taxpayers and the entire economy. Pharmacists United for Truth and Transparency is a non-profit organization funded by individual members, not corporations, lobbyists or other special interest groups. Visit TruthRx.org to learn more.
