“The supermarket industry ranks among the most competitive in our economy. Consumers and pharmacy patients have benefitted from this robust competition in the form of low prices and high levels of service.
“Our members dispense over 30 percent of our nation’s drugs and play a vital role by offering the lowest cost drug options to millions of consumers.
“The ESI-Medco merger will destroy competition by creating a behemoth with the power to unilaterally slash reimbursement rates to uncompetitive levels. A merger of these two giants would lead to the demise of the reduced price and free generic drug programs that millions of Americans depend on, and reduce access to other key pharmacy services. The FTC should bring an enforcement action to enjoin the merger.”
FMI’s letter to the FTC can be accessed here.
Food Marketing Institute (FMI) conducts programs in public affairs, food safety, research, education and industry relations on behalf of its nearly 1,250 food retail and wholesale member companies in the United States and around the world. FMI’s U.S. members operate more than 25,000 retail food stores and almost 22,000 pharmacies with a combined annual sales volume of nearly $650 billion. FMI’s retail membership is composed of large multi-store chains, regional firms and independent operators. Its international membership includes 126 companies from more than 65 countries. FMI’s nearly 330 associate members include the supplier partners of its retail and wholesale members.
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