Pharmacies in the U.S. are facing significant economic challenges, leading to a closure of nearly 30% of drugstores over the past decade. The recent report by the American Economic Liberties Project (AELP) highlights that 326 pharmacies closed in just three months, attributing many of these closures to a lack of reform in pharmacy benefit managers (PBMs). PBMs act as middlemen in drug pricing, negotiating rebates that some argue inflate drug costs instead of lowering them, thereby negatively impacting both pharmacies and consumers.
Over the past decade, the U.S. has lost nearly 30% of its drugstores, with major pharmacy chains shuttering locations and reducing their footprint.
The report from AELP indicates that in the last three months alone, 326 pharmacies have closed, largely due to Congress's failure to reform pharmacy benefit managers.
Pharmacy benefit managers, while positioned as cost negotiators, can actually inflate drug costs by retaining a portion of negotiated rebates.
The involvement of pharmacy benefit managers in the healthcare system is disputed, as it may lead to higher overall drug costs.
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