RadCasts

We take a deep dive into the lesser-known industry of “pharmacy benefits managers” (PBMs) which are parasitical companies that sit in the middle of the incredibly consolidated and vertically integrated market of pharmaceuticals <=> hospitals <=> insurers <=> pharmacy benefits managers <=> pharmacies. Through the simple administrative business of making lists of drugs and networks of pharmacies, PBMs have managed to carve out a multi-billion dollar rent-seeking industry premised on controlling (and jacking up) how much drugs cost and where you can get them—and extracting as much money as possible from people who need those drugs. ••• Timeline of FTC lawsuit against PBMs and relevant documents: https://www.ftc.gov/legal-library/browse/cases-proceedings/221-0114-caremark-rx-zinc-health-services-et-al-matter-insulin ••• Concurring Statement of Commissioner Andrew N. Ferguson https://www.ftc.gov/system/files/ftc_gov/pdf/Ferguson-Statement-Pharmacy-Benefit-Managers-Report.pdf ••• Market Power and Inequality: The Antitrust Counterrevolution and Its Discontents | Lina Khan and Sandeep Vaheesan https://scholarship.law.columbia.edu/faculty_scholarship/2790/ ••• Inside the Mafia of Pharma Pricing | Matt Stoller https://www.thebignewsletter.com/p/inside-the-mafia-of-pharma-pricing ••• A brief look at current debates about pharmacy benefit managers https://www.brookings.edu/articles/a-brief-look-at-current-debates-about-pharmacy-benefit-managers/ Standing Plugs: ••• Order Jathan’s new book: https://www.ucpress.edu/book/9780520398078/the-mechanic-and-the-luddite ••• Subscribe to Ed’s substack: https://substack.com/@thetechbubble ••• Subscribe to TMK on patreon for premium episodes: https://www.patreon.com/thismachinekills Hosted by Jathan Sadowski (bsky.app/profile/jathansadowski.com) and Edward Ongweso Jr. (www.x.com/bigblackjacobin). Production / Music by Jereme Brown (bsky.app/profile/jebr.bsky.social)

Just over 100 days into Trump’s second term, the damage in Washington, DC is already undeniable. From threatening local autonomy to J-6 insurrectionists getting off the hook, the nation's capital is under siege. 

Guest co-host Bridget Todd, host of There Are No Girls On The Internet, joins Weird Little Guys’ Molly Conger to break down what’s happening in DC—and why the rest of the country can’t afford to look away.

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