*Billy Cadogan
I. Introduction
The United States began to spend significantly more on prescription drugs per capita compared to the rest of the world in the mid-1990s.[1] The increase in prices and the business practices within the prescription drug industry have gotten so out of hand that the Federal Trade Commission (FTC) filed a lawsuit against the three biggest pharmacy benefit managers (PBMs) for anticompetitive practices and market manipulation, alleging the PBMs steer patients toward more expensive drugs and exclude cheaper alternatives from their formularies.[2] The FTC filed suit against the three largest PBMs on September 20, 2024 for engaging in anticompetitive and unfair rebate practices which have led to artificially inflated prices and limited access to lower-priced alternatives.[3] The suit and FTC investigation have potential to bring transparency and fairness to the prescription drug market.[4]
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