February 6, 2012 – ARLINGTON, VA – Food Marketing Institute (FMI) issued the following statement on behalf of its regulatory counsel, Erik Lieberman, regarding the proposed acquisition of Medco Health Solutions (Medco) by Express Scripts, Inc. (ESI) and its recent letter to Federal Trade Commission Chairman Jon Leibowitz:

“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.