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Pharmacy owners rally in Albany

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 NEW YORK Hundreds of neighborhood pharmacy owners from across New York today rallied in Albany against the middlemen at the center of the state’s broken prescription drug distribution system.

At the Capitol, the pharmacy owners called on lawmakers to enact regulations requiring transparency for the prescription drug middlemen – known as pharmacy benefit managers (PBMs) – and new protections for patients, taxpayers and neighborhood pharmacies.

“New York’s prescription drug distribution system is broken, and it is time to fix it,” said Elizabeth Lasky, executive director of the Pharmacists Society of the State of New York (PSSNY). “Prescription drug middlemen are rigging prices, eliminating patient choice, ripping off taxpayers and destroying neighborhood pharmacies. We urge our elected representatives in Albany to act now by introducing common sense regulations to protect patients, taxpayers and neighborhood pharmacies.”

The rally was organized by FixRx, a joint effort of PSSNY and the New York City Pharmacists Society (NYCPS) to restore fairness to the way prescription drugs are distributed.

Parthiv Shah, a representative of the FixRx campaign, speaks to over 250 independent pharmacy owners during a rally at the New York State Capitol in Albany. (Photo: Joan Heffler)

As part of the campaign, FixRx also unveiled a new website, fixrx.org, which explains the role PBMs play in New York’s broken prescription drug distribution system and provides tools for patients, taxpayers and pharmacy owners to make their voices heard.

The rally and website follow a report in January that PBMs last year stole more than $300 million from New York taxpayers, overcharging the state’s Medicaid managed care plans by 24%.

Neighborhood pharmacies have been hit particularly hard by abusive PBM practices. From the start of 2016 to the end of 2017, PBMs cut pharmacies’ gross margins on generic drugs by 83%. In response, more than 70% of neighborhood pharmacies in New York City were forced to reduce store hours or lay off employees in 2018, according to a survey by NYCPS. More than 90% are considering doing so this year.

“New Yorkers should not have to struggle to access or afford the medication they need. Taxpayers should not be used as a piggybank for greedy corporations. And neighborhood pharmacies should not be prevented from providing our communities with the essential healthcare services they rely on,” said Parthiv Shah, chairman of the New York City Pharmacists Society. “With Albany’s support, the days of PBMs lining their pockets at the expense of hard-working New Yorkers will soon be over.”

Pharmacy owners today were joined by several elected officials who have joined the chorus of voices recognizing the need to fix New York’s broken prescription drug distribution system


ECRM_06-01-22


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