FTC Bureau Of Competition Chief Testifies On House Bill Affecting Pharmacies

This morning, on behalf of the Federal Trade Commission (FTC), Bureau of Competition Chief, Richard Feinstein, testified at a meeting of a subcommittee of the House Judiciary Committee concerning H.R. 1946, Preserving Our Hometown Independent Pharmacies Act of 2011, which would create an antitrust exemption for certain collective bargaining by pharmacies. The FTC Commissioners approved the testimony by a 4-0 vote.

Following is a noteworthy excerpt from the FTC's press release regarding the testimony:

The Federal Trade Commission testified today before Congress about proposed legislation that would exempt independent pharmacies from the antitrust laws, saying that such an exemption is likely to reduce competition and innovation, and ultimately increase prices for health care consumers in the United States.