Healthy Skepticism of Pharmacy Giants is Spreading

Independent pharmacies are the unsung heroes of healthcare, providing critical services that chain pharmacies simply can't match. On this summer special, ILSR’s Stacy Mitchell illustrates how corporate giants like CVS and Walgreens have used predatory tactics to drive these vital local businesses to the brink of extinction in communities and have, in many cases, subsequently abandoned these communities, creating pharmacy deserts and pushing people towards unreliable mail-order services.  Stacy reflects on the significant shift in our federal regulatory agencies since the 2020 Building Local Power episode “Independent Pharmacies are on the Front Lines of COVID-19 Care,” which we revisit after the interview. She explains how we're witnessing a dramatic transformation in the federal approach to curbing predatory practices. The Federal Trade Commission (FTC) recently released a report exposing how Pharmacy Benefit Managers (PBMs) are driving up drug costs and squeezing out main street pharmacies. The federal government is finally recognizing the need to challenge the monopoly power of these pharmacy giants and advocate for policies that support independent pharmacies and the communities they serve.