Big pharmacies are dismantling the industry that keeps US drug costs even sort-of under control

When a pharmacy owns a PBM, “it’s a sweetheart deal—the two entities no longer have an incentive to negotiate with each other.”

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Media Outlet: Quartz

When US lawmakers convened a hearing last month to discuss the pricing of prescription drugs, it was the testimony of Martin Shkreli—the brash former Turing Pharmaceuticals CEO who raised the price of AIDS medication by 5,000%—that garnered the headlines. But the hearing also looked at an issue that, while it got far less attention, could make drugs more expensive for far more people: almost everyone in America, in fact.

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Brian S. Feldman was a researcher-reporter with the Open Markets program at New America. He previously worked for an education technology company in Cleveland, Ohio through Venture for America