FTC Chair Khan talks about fighting monopolistic tactics in NCPA cohosted town hall

NCPA March 8, 2024

As a member of the Small Business Rising Coalition, NCPA cohosted a virtual event last Monday with FTC Chair Lina Khan, who joined business leaders and advocates from several sectors of the economy to provide a glimpse into today’s most important anti-monopoly actions. She also heard directly from small business owners in a town hall-style Q&A. “Efficiency is important and it’s something we want to promote. What we don't want is monopolistic firms to use their existing special privileged, unfair advantage, or unlawful tactics to get ahead,” Khan told the group, who called upon the pharmacy as a David versus the Goliath of PBMs example. “Independent pharmacies out-peak the bigger chains, be it on price, be it on quality [and] local communities really like their independent pharmacists,” said Khan. NCPA President Lea Wolsoncroft, owner of Remedies Pharmacy in Alabama, spoke at the virtual town hall, and Khan about the merger guidelines released by the FTC and Department of Justice in December — specifically raising the question of whether their “route to market” terminology and changes to how the agencies would examine the market share of merged firms with a market share of over 30 percent were made in contemplation of PBMs. Khan didn't comment on how the guidelines would apply to any specific industry, but she said it’s no secret that the agency is scrutinizing PBMs after hearing from independent pharmacists, patients, and others about their practices.