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FTC Commissioner M. Holyoak has issued a dissenting opinion on the Federal Trade Commission's (FTC) preliminary interim staff report concerning pharmacy benefit managers (PBMs). Holyoak criticized FTC Chair Lina Khan for allegedly manipulating agency procedures to achieve political outcomes and for calling out PBMs that did not comply with subpoenas. The dissent also highlighted the lack of substantive analysis in the report, comparing it to a high school book report. The report had a long history, with Chair Khan failing to secure votes in 2022 due to the absence of a clear analysis plan. Commissioner A. Ferguson also expressed concerns about the report, emphasizing the potential harms to future FTCs and the importance of resource allocation.
Cmr Ferguson’s stmt on the PBM study is well worth a read. I would place less weight on the value of a report with 0 analysis, and more on harms to future FTCs - with @AFergusonFTC in the majority. But I don’t get to vote any more ;) The focus on resource allocation and Order…
Cmr. Holyoak's (@MHolyoakFTC) dissent from today's FTC interim staff report on PBMs is an absolute tour de force. I can't recommend it enough. I could share every single word here—it's only 7 pages long and worth every page. But here are a couple of highlights. 🧵 https://t.co/N77N5ggjTN
FTC Commissioner @MHolyoakFTC is out with an excellent dissent to the @FTC's investigation into pharmacy benefit managers. Holyoak and Ferguson are doing critical work calling out how @linakhanFTC twists agency procedures to achieve political outcomes. https://t.co/E4aBkQU93w https://t.co/GzVjd7FoMa