Media Alert: A Statement from David Fields, the CEO of Navitus Health Solutions, on today’s FTC report on PBMs
09 Julio 2024 - 2:12PM
Business Wire
Jointly owned by SSM Health and Costco
Wholesale, Navitus is a “transparent PBM” that passes on all
rebates to its customers, helping lower prescription drug costs.
Navitus Health Solutions serves nearly 15 million members, with PBM
clients including Foot Locker, Trek, Sargento, and state health
plans in Texas and Wisconsin, along with others.
David Fields, CEO of Navitus Health Solutions, made the
following statement regarding today's FTC report of PBMs:
"The damning FTC report reaffirms what we have long known – the
large PBMs are only concerned with satisfying their enormous
appetite for profit while bleeding America’s healthcare system dry.
By filling more than 94 percent of prescriptions in the US, they
are not only anticompetitive but have also created a public health
crisis.
Much like Big Tobacco, these PBMs will continue their harmful
practices until they are forced to change. Until then, drug prices
will continue to skyrocket, with the drug companies and the Big
Three conspiring to keep drug costs high.
At Navitus we applaud the FTC for shining a spotlight on this
issue and stand in opposition to the backroom negotiations between
drug companies and the Big Three where high prices result in large
rebates that the PBMs use to satisfy their profit machines.
At Navitus, we return all rebates and fees we get from drug
companies to our customers to help keep drug prices as low as
possible, so people can afford critical medications. But we can’t
lead the battle alone. We need our nation’s policy-makers to act
and act quickly.
Our specialty pharmacy, Lumicera, is the only cost plus
specialty pharmacy in the country. Our annual Drug Trend Report,
which will be released publicly next week, includes real, auditable
data that shows what we pay for medications on behalf of our
clients.
Reform is urgently needed to ensure ALL PBMs prioritize patient
health and affordability in their practices, and to build trust
again with a more transparent and accountable healthcare
system.”
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version on businesswire.com: https://www.businesswire.com/news/home/20240709014016/en/
Sarah Broome navitus@aircoverpr.com