New FTC study on drug costs fails to conduct empirical analysis of market conditions
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The Federal Trade Commission (FTC) release a new study today claiming Pharmacy Benefit Managers (PBMs) are responsible for higher drug costs. FTC Commissioner Melissa Holyoak dissented from the decision to release the FTC study.
Director of CEI’s Center for Technology and Innovation Jessica Melguin said:
“The FTC has, unfortunately, continued its recent habit of failing to conduct empirical analysis of market conditions with today’s interim report on PBMs. Buzz words and ‘bad vibes’ make for good sound bites and plentiful invites for cable television hits, but they are woefully insufficient for making good policy. Serious economic proof must be presented before interfering with the health needs of Americans; this report fails to do so.”
More from CEI:
- Video: How Pharmacy Benefit Managers Lower Healthcare Costs
- Dr. Joel Zinberg: A Free Market Solution for Drug Distribution