WASHINGTON — The National Association of Chain Drug Stores sharply criticized a proposal from the pharmacy benefit managers lobby to “self-regulate” its business practices rather than submit to new federal oversight.
In a statement, NACDS President and CEO Steven C. Anderson said the industry cannot rely on PBMs to police themselves after years of practices that, in his view, have inflated drug prices and contributed to pharmacy closures.
“NACDS has been following the developing news regarding the proposal from the pharmacy benefit managers (PBMs) to the Centers for Medicare & Medicaid Services (CMS) to ‘self-regulate’ and voluntarily modify their own business practices, rather than accepting new federal oversight. NACDS stands firm in rejecting the notion that PBMs will suddenly act in good faith, given their years of driving up Americans’ drug prices and forcing pharmacy closures that dangerously impede patient care,” he said.
Anderson argued that the latest proposal represents a well-worn tactic by PBMs to avoid enforceable reforms.
“With a well-documented history of stonewalling oversight and countless broken promises, the idea that PBMs are capable of any meaningful ‘self-regulation’ is not only far-fetched, it’s a real risk to the future of pharmacy care. We’ve seen this play before: PBMs announce voluntary “fixes,” but these moves are only riddled with loopholes for their own gain, never real solutions for patients or pharmacies. This proposal is a classic delay tactic, intended to avoid real, enforceable reform, maintain high profits, and put patient access and pharmacy survival at risk,” Anderson added.
NACDS pointed to recent national polling showing that 97% of Americans want action to reduce pharmacy closures, calling that near-unanimity a mandate for federal reform.
Anderson urged the administration and Congress to reject the PBM proposal and instead pursue bipartisan reforms that have already been drafted.
“NACDS shares the Administration’s goal of improving healthcare affordability and access, and urges them to reject the ludicrous proposal from the PBMs, instead moving forward with strong, enforceable reforms that will realize that objective. Similarly, we urge Congress to expedite the passage of the bipartisan PBM reforms that were previously agreed upon and only removed from recent legislative packages for reasons unrelated to the substance of the reforms. For years, PBMs have acted with almost no oversight. NACDS stands shoulder to shoulder with patients, pharmacists, and communities calling for change,” said Anderson.
