“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 proudly advocates on behalf of the food retail industry. FMI’s U.S. members operate nearly 40,000 retail food stores and 25,000 pharmacies, representing a combined annual sales volume of almost $770 billion. Through programs in public affairs, food safety, research, education and industry relations, FMI offers resources and provides valuable benefits to more than 1,225 food retail and wholesale member companies in the United States and around the world. FMI membership covers the spectrum of diverse venues where food is sold, including single owner grocery stores, large multi-store supermarket chains and mixed retail stores. For more information, visit www.fmi.org and for information regarding the FMI foundation, visit www.fmifoundation.org.
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