ALEXANDRIA, Va. (April 14, 2022) – At today’s Federal Trade Commission-Department of Justice online listening forum on effects of mergers and acquisitions, National Community Pharmacists Association President Michele Belcher described to FTC Chair Lina M. Khan, Assistant Attorney General Jonathan Kanter, and others how pharmacy benefit managers’ take-it-or-leave-it contracts with independent pharmacies lead to harms including higher costs and restricted access to care. This health care-focused event is part of a series centering on industries and labor markets that are commonly affected by mergers that may reduce competition.
In addition to serving as NCPA president, Belcher is owner of Grants Pass Pharmacy in Grants Pass, Ore. During her remarks Belcher said that vertical consolidation in the pharmacy industry has created a perverse environment where one competitor sets another competitor’s prices, dictates their competitors’ reimbursements, uses their competitors’ data to steer patients to their own stores, and limits where and what consumers can buy.
“As a small business owner and an advocate for my patients, I can say with certainty that vertical consolidation in our industry has limited access to care, stifled innovation, and increased prices for consumers,” Belcher wrote in her comments as prepared for delivery. “I hope that you will see that our industry is in desperate need of regulatory oversight and that without it, small businesses will continue to be put out of business and consumers will be harmed.”
Belcher made similar comments at a December 2021 virtual town hall hosted by the American Economic Liberties Project and featuring White House National Economic Council Director Brian Deese, National Economic Council Deputy Director Bharat Ramamurti, and Special Assistant to the President for Technology and Competition Policy Tim Wu.
For video from today's listening forum, click here. For more information, click here.
Click here for Belcher’s remarks as prepared.
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Founded in 1898, the National Community Pharmacists Association is the voice for the community pharmacist, representing nearly 19,400 pharmacies that employ approximately 215,000 individuals nationwide. Community pharmacies are rooted in the communities where they are located and are among America’s most accessible health care providers. To learn more, visit www.ncpa.org.
