The Patients Before Monopolies Act of 2024 prohibits pharmacy benefit managers (PBMs) and insurance companies from owning or controlling pharmacies, addressing concerns about conflicts of interest in the prescription drug industry. Companies that currently own both pharmacies and PBMs or insurance operations would have three years from enactment to sell off their pharmacy businesses. Federal regulators including the Federal Trade Commission, Department of Justice, and state attorneys general can pursue legal action against violators, with courts able to order companies to stop the practice, divest pharmacies, and return profits made from pharmacy sales during the violation period. Any money recovered through these legal actions would be deposited into a fund managed by the FTC to help communities harmed by overcharges at vertically integrated pharmacies. The bill aims to reduce conflicts of interest where PBMs might prioritize their own pharmacies over independent pharmacies or those owned by competitors, potentially leading to higher drug prices and reduced patient choice.
Take Action
Your position
Add a comment
to comment on this bill.
Annotate the text
Highlight any passage on the Summary or Full Text tab to attach a note. Annotations appear on the Annotations tab.