FTC Forces Transparency Reforms on Express Scripts in Landmark Settlement
Media Contact: Lisa McDonald, Vice President of Communications, 202-207-2829
Washington, DC – Today, the National Consumers League (NCL) applauds the Federal Trade Commission (FTC) for securing a landmark settlement with one of the nation’s largest pharmacy benefit managers (PBMs), Express Scripts, Inc., and its affiliated entities. The settlement requires Express Scripts to make significant changes to its business practices that will, among other things, increase transparency, base patients’ out-of-pocket expenses on the drug’s net cost rather than the artificially inflated list price, and increase fairness in community pharmacy reimbursement.
“For too long, pharmacy benefit managers have operated with little transparency, leaving patients and community pharmacies to bear the consequences,” said NCL’s CEO Sally Greenberg. “This settlement advances reforms NCL has long championed, greater transparency, accountability, and fairer practices that put patients first, and we appreciate the FTC’s leadership in moving this work forward.”
The FTC’s action addresses longstanding concerns about PBM practices that have contributed to inflated drug prices and higher patient costs. These actions are expected to lower patients’ out-of-pocket costs for prescription drugs like insulin by up to $7 billion over the next decade and deliver millions of dollars in new annual revenue to community pharmacies.
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About the National Consumers League (NCL)
The National Consumers League, founded in 1899, is America’s pioneer consumer organization. Our mission is to protect and promote social and economic justice for consumers and workers in the United States and abroad. For more information, visit www.nclnet.org.
