APCI Applauds Introduction of the Pharmacists Fight Back Act; Urges Prompt Consideration and Passage

BESSEMER, Ala., July 23, 2024 /PRNewswire/ -- Officials with American Pharmacy Cooperative, Inc. (APCI) applauded the introduction of the Pharmacists Fight Back Act in Congress today, and urged lawmakers to swiftly pass the bill.

The Pharmacists Fight Back Act ends abusive pharmacy benefit manager (PBM) practices in federal programs by moving to a transparent PBM model that caps costs for patients, ensures patients get the benefit of drug manufacturer discounts, ensures patient choice of pharmacy, and prohibits other PBM abuses.

The bipartisan bill was sponsored in the U.S. House of Representatives by Rep. Jake Auchincloss (D-MA) and Rep. Diana Harshbarger (R-TN). The bill addresses prescription drug coverage in Medicare Part D and Medicare Advantage plans, Medicaid managed care, Tricare, and the Federal Employee Health Benefits program.

Following the recent release of a Federal Trade Commission interim report on pharmacy benefit manager (PBM) practices that increase prices for prescription drugs, along with blockbuster articles by the New York Times and the Wall Street Journal exposing the misdeeds of large PBMs, there is no better time for meaningful and comprehensive PBM reform that protects patients, pharmacies, and taxpayers from PBM abuses.

"APCI could not be more grateful to Representatives Harshbarger and Auchincloss for their courage in taking on the unfair business practices of some of the largest companies on earth and for doing so in such a comprehensive manner," said APCI CEO Tim Hamrick. "At a time when patients are struggling to afford their medication and community pharmacies are shuttering their doors at record pace, this legislation looks to comprehensively right the ship with a transparent prescription drug pricing model that takes drug pricing out of the hands of the PBMs."

"Large PBMs were entrusted with administering drug benefits under federal healthcare programs, and they have betrayed that trust," said APCI Vice President of Healthcare Policy Greg Reybold. "The Pharmacists Fight Back Act is the blueprint for stopping unfair PBM practices in their tracks and holding PBMs criminally responsible for violations of the law."

APCI looks forward to supporting this legislation in every way possible and is proud to have worked on its introduction with Representatives Harshbarger and Auchincloss. In light of the protections this legislation affords patients, community pharmacies, and taxpayers, it is APCI's hope that this legislation will be promptly considered and passed by Congress.

About APCI

APCI is a member-owned cooperative of independently owned community pharmacies in 31 states. Established in 1984 and headquartered in Bessemer, Ala., APCI is recognized as a leader in the fight for prescription drug pricing transparency and reform. APCI's advocacy team includes long-time Director of Legislative Affairs Bill Eley; Vice President of Healthcare Policy and General Counsel Greg Reybold; and its lobbying team at Arent Fox.

SOURCE American Pharmacy Cooperative, Inc.