FTC To Probe Pharmacy Benefit Managers’ Impact on Access, Price
The Federal Trade Commission is looking into the business practices of the 6 largest PBMs, which negotiate rebates and fees with drug manufacturers for health plans, the agency announced Tuesday. Some independent pharmacies have complained that PBMs' practices have helped fuel price increases and limit consumers' choices.
Modern Healthcare:
FTC Takes Aim At PBM Business Practices In New Inquiry
The Federal Trade Commission will intensify its scrutiny of pharmacy benefit manager business practices, the agency announced Tuesday. The probe, which the commission unanimously approved, will focus on how vertical integration in the PBM sector affects access and pricing in the prescription drug market, according to a news release. The FTC will require the six largest PBMs to provide information about their activities. The regulator plans to send compulsory orders to CVS Health's CVS Caremark, Cigna's Express Scripts, UnitedHealth Group's OptumRx, Humana, Blue Cross and Blue Shield-affiliated Prime Therapeutics, and MedImpact Healthcare Systems. CVS Caremark, Express Scripts and OptumRx collectively control about 80% of the PBM market. (Goldman, 6/7)
The Wall Street Journal:
FTC To Investigate CVS Caremark And Other Pharmacy-Benefit Managers
“Although many people have never heard of pharmacy-benefit managers, these powerful middlemen have enormous influence over the U.S. prescription drug system,” FTC Chairwoman Lina Khan said. “This study will shine a light on these companies’ practices and their impact on pharmacies, payers, doctors, and patients.” The inquiry will also look into the use of specialty drug lists and related specialty drug policies. The FTC said it has received more than 24,000 public comments about pharmacy-benefit managers. (Hardison and Walker, 6/7)
In other pharmaceutical industry developments —
Reuters:
Sanofi's Dupixent Gets U.S. Approval To Treat Eczema In Young Children
The U.S. Food and Drug Administration approved the use of Sanofi and Regeneron Pharmaceuticals Inc's anti-inflammation drug Dupixent to treat eczema in young children, the two companies said on Tuesday. Dupixent is now the first approved treatment for moderate-to-severe eczema in young children, Sanofi and Regeneron said. (6/7)
CIDRAP:
Moderna Launches Phase 3 Trial Of MRNA Flu Vaccine
Moderna today announced the launch of a phase 3 trial of its mRNA seasonal flu vaccine, which has a goal of immunizing about 6,000 adult participants in the Southern Hemisphere, which is entering its flu season. In a statement, the company said the vaccine candidate, one of several respiratory disease vaccines in development, encodes for the hemagglutinin glycoprotein of the four flu virus strains recommended by the World Health Organization. It added that the surface glycoprotein is an important target for generating broad protection against flu and is the primary target for current flu vaccines. (6/7)
CNN:
Prescription Cannabis Products With More THC May Ease Chronic Pain, At Least A Little, Study Finds
People who suffer from chronic pain may find small-to-moderate pain relief for the short-term when using certain prescription cannabis products with higher THC to CBD levels, but there are some worrisome side effects, according to new research. Tetrahydrocannabinol, or THC, is the chemical compound in the marijuana plant that makes you high. Cannabidiol, or CBD, is the second most prevalent active chemical in cannabis, but it does not make you high. Both have been associated with pain relief. "The findings are in line with what we know," said Yasmin Hurd, a professor of pharmacological sciences, neuroscience and psychiatry at the Icahn School of Medicine at Mount Sinai in New York City. She was not involved with the study. (LaMotte, 6/8)
Also —
FiercePharma:
Novo Nordisk Hit With Age Discrimination Suit By US Agency
Novo Nordisk is in hot water with a U.S. agency for alleged age discrimination. The U.S. Equal Employment Opportunity Commission (EEOC) has sued the company for allegedly denying a lateral transfer to a 62-year-old employee because of her age and instead hiring a less-qualified 33-year-old. Novo's employee had worked for Novo Nordisk as an obesity care specialist since 2015. When the same position opened in another territory closer to where she lived, she applied and interviewed. But instead of hiring her, the company selected someone 30 years younger from another state. (Becker, 6/7)
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