LISTEN: Independent pharmacy owner Jonathan Marquess says he regularly has to take losses when insurance companies don't cover full drug costs. GPB's Sarah Kallis reports.

U.S. Rep. Carter tours Atlanta pharmacy facing profit losses over drug costs

FTC Chair Andrew Ferguson (left), U.S. Rep. Buddy Carter (center) and pharmacy owner Jonathan Marquess discuss challenges independent pharmacies are facing with drug prices.

Credit: Sarah Kallis/GPB News

U.S. Rep. Buddy Carter visited a pharmacy in Atlanta on Tuesday with Federal Trade Commission Chair Andrew Ferguson to learn more about how they are coping with rising drug costs.

Jonathan Marquess, the owner of Briarcliff Pharmacy, told Carter he regularly has to take losses when insurance companies don’t fully cover the cost of prescriptions, such as one for an asthma inhaler the pharmacy filled earlier that day. 

“Our pharmacy, we paid $12," Marquess said. "And the insurance came back and said, 'We'll pay you $7.41.' And this man or woman standing there having trouble breathing — it's hard to say no to that." 

But Marquess said those losses threaten the livelihood of independent pharmacies.

Carter, who is running for U.S. Senate, said rising costs can be partially attributed to Pharmacy Benefit Managers, also known as PBMs. He touted his recent bipartisan bill that aims to place more regulations on PBMs, which negotiate prices between pharmaceutical manufacturers and insurance companies.

Tags: Georgia  Georgia Politics  pharmaceutical prices  Insurance  health  health care costs  buddy carter 
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