FTC Pulls Back From Prior Support for Pharmacy Benefit Middlemen

The FTC on Thursday plans to walk back years of advocacy in support of the entities that manage prescription drug coverage—support that analysts say has helped fuel the growth and market integration the agency is now investigating.

The agenda for the Democratic-controlled Federal Trade Commission’s open meeting includes voting on a statement that would withdraw prior advocacy statements against state legislation aimed at boosting transparency, as well as studies related to pharmacy benefit managers that the FTC said “no longer reflect current market realities.”

The agency declined to provide specifics on the statement ahead of the meeting but said the ...