Navigation Links
Nationwide Coalition Responds to Express Scripts CEO Statement: "I Can't Stop Certain Pharmacies From Going Out of Business"
Date:12/8/2011

WASHINGTON , Dec. 8, 2011  /PRNewswire-USNewswire/ -- The following was released today by Preserve Community Pharmacy Access NOW! (PCPAN):

Less than 24 hours after releasing a study claiming that the merger of Express Scripts Inc. (ESI) and Medco, two pharmacy benefit managers (PBMs), would save consumers billions of dollars in health care costs, George Paz, ESI's chief executive officer testified before the Senate Judiciary Subcommittee on Antitrust, Competition Policy and Consumer Rights and responded to a question about the merger with, "I can't stop certain pharmacies from going out of business."

Several U.S. Senators expressed concern about the proposed merger at the hearing, including Subcommittee Chairman Herb Kohl of Wisconsin who said,"It is notable that no large employer who privately expressed concerns to us wished to testify at today's hearing, often telling us that they feared retaliation from the large PBMs with whom they must do business."

Later, Kohl questioned Express Scripts' claim that the merger would drive innovation and create savings for consumers saying, "We all know that innovation is the fruit of competition and that the more competitors, the more innovation and the better the consumer is served.  You seem to be making an argument to the contrary.  Have you come up with a new concept for how capitalism works? … Would you suggest that, if you could also take over Caremark and CVS that would be the best thing for everybody?  You control the whole market.  Would you then innovate in a way that would not be possible otherwise?"

Senator Kohl went further asking Paz whether any claimed savings achieved would be directed toward pharmacies and patients with the ESI CEO acknowledging they would not.  Kohl stated, "But I heard you say just now that significantly increasing discounts over what you're getting right now is really not why you're doing this deal, and you're not nearly as certain as some people might think that this deal will result in far more discounts from your suppliers.  There are other ways in which you hope this deal will pay off."  Paz responded, "That is correct."

Senator Richard Blumenthal of Connecticut also expressed concern stating, "The question is, how will consumers be protected from overreaching and excessive profits that are at the expense of competition?"  Later he continued, "I'm very concerned about this merger simply from the standpoint of its effect on competition."

Senator Al Franken of Minnesota, a state that has seen 12 communities lose their only outpatient pharmacy in recent years expressed his concerns about the proposed merger's potential impact on rural pharmacies and the elderly.  "When elderly patients have to drive many miles in the dead of winter, or have someone drive them to pick up their drugs, I worry," Franken said to Paz. "There are currently 141 rural communities in Minnesota that have only one pharmacy.  You think this merger will help keep the rural pharmacies in business?"

"Express Scripts CEO George Paz testified that, 'patients-not-profits must come first,' but the remainder of his testimony clearly demonstrated that this proposed merger would result in the elimination of jobs and limit access to pharmacies for some of the most vulnerable citizens in underserved communities throughout the country," said former Congresswoman Eva Clayton, chairman of the Preserve Community Pharmacy Access Now (PCPAN) coalition. "Particularly now, with an unemployment rate of nearly nine percent and no relief in sight, America can ill afford the loss of more jobs and access to pharmacy care that would result from the merger of these two behemoth middlemen."

Adding to the growing number of lawmakers on both sides of the aisle calling for the proposed merger to be stopped or further scrutinized, Republican Senators Saxby Chambliss and Johnny Isakson of Georgia and Jerry Moran of Kansas wrote a letter to Federal Trade Commission (FTC) Chairman Leibowitz on December 2nd asking for a "thorough and complete investigation" of the deal.

As the investigation of the proposed merger continues, lawmakers and consumers who are concerned about precious jobs and the future of health care in America should listen to Express Scripts' own admission of the economic damage that would result from their merger with Medco, and any potential savings realized would increase their profit margins and not be passed on to community pharmacies and patients.

Preserve Community Pharmacy Access NOW! is a coalition of consumers, businesses and community-based pharmacists from across the country that have come together for the purpose of opposing the planned merger between Express Scripts Inc. and Medco Health Solutions Inc.  PCPAN is a project of Pharmacy Choice and Access Now.


'/>"/>
SOURCE Preserve Community Pharmacy Access NOW! (PCPAN)
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. Nationwide Survey Reports that Mothers View Cleaning Homes and Toys as Essential to Preventing Colds & Flu
2. 10 Million Square Feet of Turf Set to be Treated in 2008 in Response to MRSA Outbreaks Nationwide
3. Hydrox Inc., Cardinal Health Issue Nationwide Recall of Alcohol-Free Mouthwash For Hospitals
4. Nationwide Progress Poll Reveals Increased Efforts by Hospitals to Control MRSA Infection
5. Nationwide Survey Shows Infertility Patients Prefer ENDOMETRIN(R) Compared With Other Progesterone Supplements
6. Diabetes Experts Issue New Recommendations for Inpatient Glycemic Control - Call for Systemic Changes in Hospitals Nationwide
7. mPay Gateway Teams With Allscripts to Provide Point-of-Care Patient Payment Tools to Physician Practices Nationwide
8. Video: EmFinders EmSeeQ(TM) Now Available to Locate Wandering Individuals in Emergency Situations Nationwide
9. Once-Daily INTUNIV(TM) (guanfacine) Extended Release Tablets Now Available in Pharmacies Nationwide
10. McNeil Consumer Healthcare Announces a Voluntary Nationwide Recall of All Lots of TYLENOL(R) Arthritis Pain 100 Count With EZ-OPEN CAP
11. Merz Pharmaceuticals Introduces New Mederma(R) Stretch Marks Therapy Now Available in Drugstores Nationwide
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:1/23/2017)... , Jan 23, 2017 NeuroVive ... NeuroVive has signed a preclinical collaboration agreement with the Children,s ... Marni J. Falk , M.D., a US key opinion leader ... ... CHOP will evaluate compounds from NeuroVive,s research program, NVP015, in ...
(Date:1/22/2017)... Switzerland and ABU DHABI , Saudi ... from the US ... , Hospital of the Future , at the ... the hospital of the future will be driven by big data and powered ... according to the panel of experts that discussed the ,Hospital of the Future, ...
(Date:1/21/2017)... PUNE, India , January 20, 2017 ... by Type (Descriptive, Prescriptive), Application (Marketing, R&D, Compliance, SCM), Component (Software, ... CRO) - Forecasts to 2021" published by MarketsandMarkets, the market is ... Billion in 2016, at a CAGR of 13.3% during the forecast ... ...
Breaking Medicine Technology:
(Date:1/23/2017)... ... January 23, 2017 , ... ... Living (IHCA/INCAL), will serve as a healthcare industry expert at the 2017 Sector ... discussion, moderated by Inside Indiana Business host Gerry Dick, will feature an employer ...
(Date:1/23/2017)... Greifensee, Switzerland (PRWEB) , ... January 23, 2017 ... ... many lab and production applications. However, choosing the right method is paramount to ... may occur more often in situations where multiple persons use the same equipment. ...
(Date:1/23/2017)... ... 23, 2017 , ... "ProRandom is a set of camera tools that allow video editors to ... Cut Pro X," said Christina Austin - CEO of Pixel Film Studios. , With ... with video footage. ProRandom works by using a virtual camera to create the illusion ...
(Date:1/23/2017)... (PRWEB) , ... January 23, ... ... Education Foundation (OREF), in partnership with the American Society of Anesthesiologists® (ASA®), ... Foundation (APSF), the American Academy of Orthopaedic Surgeons (AAOS) and the Cigna ...
(Date:1/23/2017)... , ... January 23, 2017 , ... “The Inn at the Mill”: a story ... fears in her quest to become happy and content. , “The Inn at the ... has also lived in Germany and Vermont and is now living in Berks County on ...
Breaking Medicine News(10 mins):