FMI Reminds Congress: The Only Way to Preserve Pharmacy Operations and Patient Access Is Through Comprehensive PBM Reform

Arlington, VA - Today, FMI - The Food Industry Association reminded Congress that comprehensive PBM reform, not just transparency, is the only way to preserve the viability of supermarket pharmacies and patient access to pharmacies in communities across the country. FMI Chief Public Policy Officer Jennifer Hatcher offered the following statement.

"FMI and our members operate 12,000 supermarket pharmacies serving customers in communities across America. The only way to preserve the viability of supermarket pharmacies and patient access is through comprehensive PBM reform that includes ensuring fair pharmacy reimbursement and banning PBM spread pricing - the practice of PBMs charging health plans more for a drug than they reimburse pharmacies, while pocketing the difference.

"Getting at the root cause of pharmacy closures and rising drug prices requires more than just increased transparency, which is only one leg of the three-legged stool needed to address egregious PBM practices. All three core elements - transparency, pharmacy reimbursement, and spread pricing - must be addressed to sustain pharmacies and reduce drug costs. FMI and the broader pharmacy community are unified on this point.

"The data underscores the urgency. In an FMI survey conducted earlier this year, 74% of supermarket pharmacy businesses reported they are either not at all or not very profitable in 2025, even as prescription volume rises. Reimbursement is falling faster than volume is growing, and the math no longer works. As a result, 35% of respondents said pharmacies are at risk of closing in the next two years, while 70% have already closed at least one location in the past two years. PBM reform must address these realities, or it will fail patients and communities.

"FMI strongly urges Congress to pass meaningful, comprehensive PBM reform with all three legs of the stool - ensuring fair reimbursement, prohibiting spread pricing and increasing transparency."