Rep. Butterfield Adds to Congressional Chorus of Concern against PBM Mega-Merger
12/20/2011 9:19 AM
Rep. G.K. Butterfield (D-NC) wrote to Federal Trade Commission Chairman Jon Leibowitz yesterday, expressing "great concern" over the proposed Express Scripts (ESI) and Medco merger. In his letter, Rep. Butterfield conveyed skepticism over the pharamacy benefit managers' (PBM) claim that a merger would result in healthcare cost savings - strong skepticism that has been shared by consumer groups, members of Congress, and many others.
“[PBMs] have long touted their ability to generate savings for consumers,” said Butterfield. “However, I question the savings alleged by ESI and Medco, and have only heard anecdotal evidence of the decrease in prescriptions or health care premiums. In fact, many have expressed that the opposite is true. I fear that giving a consolidated PBM even greater market power could potentially worsen this already troublesome situation.”