FTC commissioner: investigating PBMs is 'top priority'

The newest member of the Federal Trade Commission, Alvaro Bedoya, told the Minneapolis Star Tribune it is his "personal top priority" that the agency's probe into the pharmacy benefit manager industry is "conducted as rigorously as possible."

The newspaper reported the comment Sept 22. It follows the federal agency launching an inquiry in June into the business practices of the nation's six largest PBMs: CVS Caremark, Express Scripts, OptumRx, Humana, Prime Therapeutics and MedImpact Healthcare Systems.  

"Today, it is axiomatic that antitrust does not protect small business. And that the lodestar of antitrust is not fairness, but efficiency," Mr. Bedoya said a conference in Minneapolis. "How did this happen? ... I think it is time to return to fairness."

Mr. Bedoya was appointed to the FTC by President Joe Biden and was confirmed by the Senate in May. His term ends in 2026.

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