Senator Grills CEO on Independent Pharmacy Closures and PBM Practices

Independent Pharmacy Crisis

• 📉 Independent pharmacies across Vermont are closing at an alarming rate, with 126 having gone out of business.
• 📌 These pharmacies are described as critical to communities, especially in rural areas, and their closure devastates Main Street.
• ⚠️ A major issue is the practice of reimbursement clawbacks by Pharmacy Benefit Managers (PBMs) after the sale of a prescription, sometimes years later.

Business Model Concerns

• ❓ A key question is how businesses can survive when they sell a product at an agreed-upon price, only to be reimbursed at a lower price months after the fact.
• 💸 This unpredictable reimbursement model, including retroactive clawbacks, can amount to thousands of dollars for pharmacies.
• 🎯 PBMs, particularly the