President Donald Trump signed an executive order on Tuesday aimed at reducing drug prices. The order includes measures to reassess the role of intermediaries in the supply chain and enhance transparency concerning pharmacy benefit managers (PBMs). The National Community Pharmacists Association (NCPA) issued a statement expressing cautious optimism about the development.
The NCPA acknowledged the potential positive impact of the order but noted that its effectiveness would depend on the specifics and implementation. "While the devil will be in the details and in the implementation, we are optimistic that the administration is making moves to address PBMs. President Trump has talked several times about the need to rein them in, and we’re pleased he’s looking to do so," the statement read.
Independent pharmacies, as highlighted by the NCPA, face challenges competing with PBMs. These organizations are accused of engaging in anti-competitive practices, such as paying pharmacies less for drugs than their purchasing cost and conducting overly thorough audits. "Ultimately these henchmen for Big Insurance increase prescription costs and reduce access for consumers," mentioned the association. The NCPA advocates for ways to control PBMs through executive orders, regulations, legislation, or a combination of these actions.
The NCPA, founded in 1898, represents over 18,900 community pharmacies employing more than 205,000 individuals across the nation. It is considered the voice of the community pharmacist and emphasizes the critical role of community pharmacies as accessible healthcare providers.
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