The Powerful Companies Driving Local Drugstores Out of Business
Published On Oct 19, 2024, 5:00 AM
A New York Times article highlights how pharmacy benefit managers (P.B.M.s) are undermining independent drugstores across the U.S., leading to their closure and creating pharmacy deserts in many communities. P.B.M.s, hired by employers and government programs to manage prescription drug benefits, are reportedly underpaying small pharmacies, making it difficult for them to survive. This pattern enables large P.B.M.s that have their own competing pharmacies to gain more customers after these local drugstores shut down, thus consolidating their market power at the expense of patient access and community health.