BIO Submits Comments to FTC on PBM Business Practices
We are writing on behalf of the Biotechnology Innovation Organization (BIO) to provide comments on the Federal Trade Commission’s (FTC’s or the Commission’s) Solicitation for Public Comments on the Business Practices of Pharmacy Benefit Managers and Their Impact on Independent Pharmacies and Consumers. BIO is the world’s largest trade association representing biotechnology companies, academic institutions, state biotechnology companies, state biotechnology centers, and related organizations across the United States and in more than 30 other nations. BIO’s members develop medical products and technologies to treat patients afflicted with serious diseases, to delay the onset of these diseases, or to prevent them in the first place. In that way, our members’ novel therapeutics, vaccines, and diagnostics not only have improved health outcomes, but have also reduced health care expenditures due to fewer physician office visits, hospitalizations, and surgical interventions.