BESSEMER, Ala., July 23,
2024 /PRNewswire/ -- 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.
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SOURCE American Pharmacy Cooperative, Inc.