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Open Markets Institute urges US FTC terminate 2012 Coopharma consent order barring collective bargaining with PBMs

( October 10, 2024, 18:10 GMT | Official Statement) -- MLex Summary: The Open Markets Institute urged the US Federal Trade Commission to terminate a 2012 consent order governing Coopharma, a cooperative of independent pharmacies in Puerto Rico, which bars Coopharma and its independent pharmacy members from collectively bargaining with CVS Caremark, Express Scripts, and other powerful pharmacy benefit managers and payors on reimbursement rates and other contractual terms. "The concerted action of Coopharma and its members, which is authorized by Puerto Rico law and would be supervised actively by the territorial government, would help to at least partially counter the overweening power of the PBMs," the letter said. The collective action would promote the vitality of independent pharmacies and public access to affordable medicines, vaccines, and other essential health care, it said. Statement and document follow below:...

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