The Federal Trade Commission is starting an inquiry into the operations of pharmacy benefit managers, and what the agency calls the “prescription drug middleman industry,” that control access to medications for millions of Americans.
The consumer protection agency said Tuesday that that it will order the nation’s largest pharmacy benefit managers, or PBMs, to provide a range of information and records detailing how they do business.
PBMs run prescription drug coverage for big clients that include health insurers and employers that provide coverage. They help decide which drugs make a plan’s formulary, or list of covered medications. They also can determine where patients go to fill their prescriptions.
Read the source article at NBC News