FTC Competition Hearings: PhRMA, Former Rep. Waxman Advocate Focus On PBMs

 
• By Brenda Sandburg

FTC is assessing possible changes to competition and consumer protection enforcement law and policy, with a hearing on Innovation and IP Policy set for Oct. 23-24.

United States Federal Trade Commission building in Washington, DC

The Federal Trade Commission put out a call for public comments ahead of a series of hearings to determine whether changes are needed to competition and consumer protection law and policy. While the agency did not focus on any specific industries, both the Pharmaceutical Research and Manufacturers of America and former Congressman Henry Waxman – two parties who rarely saw eye-to-eye while Waxman was on Capitol Hill – urged consideration of the impact of the consolidation of pharmacy benefit managers (PBMs) and their role in Rx drug pricing.

The FTC announced in June that it would hold hearings from September through January to consider whether broad-based changes in...

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