Grassley, Cantwell Urge FTC to Finish Investigation into Pharmacy Benefit Managers’ Practices, Provide Final Recommendations to Congress

Grassley, Cantwell Urge FTC to Finish Investigation into Pharmacy Benefit Managers' Practices, Provide Final Recommendations to Congress

FTC has yet to finalize and release study begun in June 2022

BUTLER COUNTY, IOWA - U.S. Sens. Chuck Grassley (R-Iowa) and Maria Cantwell (D-Wash.) are urging the Federal Trade Commission (FTC) to complete its long-running study of pharmacy benefit managers (PBMs) as soon as possible and publicly release a final report with recommendations to Congress.

While the FTC issued interim staff reports in July 2024 and January 2025, the Commission has yet to complete its Section 6(b) study into PBM business practices that was opened in June 2022.

"The interim reports confirm the need for a final assessment. Both the July 2024 and January 2025 [interim reports] describe how concentration and vertical integration in the PBM industry has given leading PBMs the ability and incentive to increase drug costs, steer patients towards more expensive drug options, and operate with limited transparency," Grassley and Cantwell wrote.

The senators praised the FTC's efforts to secure proposed consent agreements with Express Scripts and Caremark but cautioned more action is needed to hold PBMs accountable and lower drug costs for American families.

"The two interim reports and proposed consent agreements provide substantial information, but they do not complete the study or provide a comprehensive set of recommendations. Congress needs a final report to evaluate whether existing antitrust and consumer protection laws adequately address the identified conduct and whether additional legislation is warranted," the senators continued.

In 2022, Grassley and Cantwell led a bipartisan letter to then-Chairwoman Lina Khan in support of the study. In January 2024, they led a bipartisan group of senators in another letter urging the FTC to complete its investigation into the nation's most powerful prescription drug middlemen.

"Prompt completion of the study will provide Congress, taxpayers, plan sponsors, patients, and pharmacies a clearer understanding of competitive conditions in the PBM market and help inform efforts to improve competition, lower prescription drug costs and protect patient access," Grassley and Cantwell concluded.

Full text of the letter can be found HERE.

Learn more about Grassley's efforts to lower prescription drug costs HERE.

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