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I've hauled Big Pharma and PBM executives before the Finance Committee.
Our bill has guardrails. It does not give FTC any new power or regulatory authority.
The Cantwell-Grassley PBM transparency bill directs the FTC to end well-known and documented PBM practices that drive up consumer price.
I believe, like Senator Cruz just said, that the consumer ought to be the point of everything that we are trying to accomplish.
I hope this committee will have the same success voting this bill out.
I have long had concerns with the FTC's vague statutory authority, but at this moment, we cannot ignore the current state of affairs at the FTC.
I worked at the FTC, and I can tell you that with the Agency's overreach and activism, which will no doubt be difficult to sustain in court, it is no surprise that FTC staff morale has dramatically dropped.
It is shocking that a commissioner would choose to resign rather than watch an agency's bipartisan tradition crumble in front of her eyes.
Improved information sharing between CBP and its private-sector partners would aid efforts to identify and curtail the sale of counterfeit imports.
Any true attempt at understanding the factors driving costs must include a look at the broader supply chain.
FMI thanks Chairwoman Cantwell and Sen. Grassley for championing the PBM Transparency Act.
The Cantwell-Grassley PBM Transparency Act directs the FTC to end well-known and documented PBM practices that drive up consumer costs.
I've hauled Big Pharma and PBM executives before the Finance Committee.
Our investigation found that the PBM scheme encourages drug makers to spike the drug's list price in order to offer a greater rebate.
Today, three PBMs control 80 percent of the market.