DOJ, FTC to Host 3 Sessions on Lowering Drug Prices Through Competition

The Department of Justice and the Federal Trade Commission will host three listening sessions in coming weeks focused on lowering drug prices by increasing competition.

The three listening sessions will be directed by Assistant Attorney General Gail Slater and FTC Chair Andrew Ferguson.

The sessions will be spread out across the summer, with the first taking place on Monday, June 30, at 2 p.m. ET. It will address “anticompetitive conduct” by pharmaceutical companies that allegedly has impeded competition and raised the price of drugs.

The second session will occur on July 24 at 2 p.m. ET, covering formulary and benefits and the “regulatory abuse impacting drug competition.” The final session will kick off on August 4 at 2 p.m. ET and address how to turn insights into action to reduce drug prices.

According to the announcement, the sessions are part of fulfilling an executive order from President Donald Trump. The executive order intends to improve drug pricing transparency and requires Secretary of Labor Lori Chavez-DeRemer to “improve employer health plan fiduciary transparency into the direct and indirect compensation” received by pharmacy benefit managers.

Last month, the agencies jointly issued a request for public input on enhancing disclosure for prescription drug prices, seeking insights into: data accessibility for health plans, the usability of current pricing formats, and state-led innovations.

In January, the FTC issued its second report on the alleged malpractice of PBMs, finding that the largest three PBMs marked up the price of several drugs, gaining more than $7.3 billion over a five-year period.