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Wright Testifies on the Hill

Professor Joshua Wright provided testimony on Capitol Hill at a March 29 hearing of the House Judiciary Committee Intellectual Property, Competition and the Internet Subcommittee on H.R.1946, the "Preserving Our Hometown Independent Pharmacies Act of 2011."

Wright spoke against the proposed exemption from the antitrust laws that would allow independent pharmacies to collectively negotiate with health plans on pricing provisions and other contract terms, saying the proposed legislation was likely to harm consumers and should be opposed on those grounds.

"Granting certain pharmacies a right to engage in anticompetitive price-fixing in the name of extracting greater payments from third-party players would result in greater costs, less competition, and reduced consumer welfare," said Wright.