Republican chairman wants FTC to review mergers of drug price negotiators

Republican chairman wants FTC to review mergers of drug price negotiators
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House Energy and Commerce Committee Chairman Greg WaldenGregory (Greg) Paul WaldenCBO: Pelosi bill to lower drug prices saves Medicare 5 billion Trump official declines to testify on trade protections for tech platforms House panel asks Trump trade official to testify on legal protections for tech platforms MORE (R-Ore.) on Friday requested a review of mergers by drug price negotiators, questioning whether the moves had driven up costs for patients.

Walden wrote to the Federal Trade Commission requesting a review looking at recent mergers of companies known as pharmacy benefit managers (PBMs), which negotiate prices with drug manufacturers.

In the letter, Walden said that while there is “conflicting information” on the impact of these mergers, he fears some companies could have “used their market power to try to increase their profits and that PBMs have encouraged higher list prices for prescription drugs that increase co-pays for patients.”

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The letter comes amid increased scrutiny of high drug prices. President TrumpDonald John TrumpWHCA calls on Trump to denounce video depicting him shooting media outlets Video of fake Trump shooting members of media shown at his Miami resort: report Trump hits Fox News's Chris Wallace over Ukraine coverage MORE has been calling out drug companies by name on Twitter, and his administration recently floated the possibility of allowing the importation of drugs to increase competition when there are price spikes.

The letter from Walden, which was also signed by GOP Reps. Gregg HarperGregory (Gregg) Livingston HarperCongress sends bill overhauling sexual harassment policy to Trump's desk Dems cry foul in undecided N.C. race Mississippi New Members 2019 MORE (Miss.) and Michael BurgessMichael Clifton BurgessTrump officials propose easing privacy rules to improve addiction treatment House approves bill raising minimum wage to per hour The 27 Republicans who voted with Democrats to block Trump from taking military action against Iran MORE (Texas), focuses more on PBMs, which have also come under scrutiny for a lack of transparency in setting prices.

Some drug pricing advocates, however, say the focus should be on drug companies that initially set the prices.