Senate subcommittee examines new pricing policies for contact lenses

The Senate Subcommittee on Antitrust Competition Policy and Consumer Rights held a hearing July 30 to explore contact lens pricing strategies initiated recently by contact lens manufacturers that would affect retail price competition, Sen. Amy Klobuchar (D-Minn.) said as she presided over the proceedings.“This is intended as an exploratory hearing to give the subcommittee and regulators a better understanding of the reasons for the minimum pricing arrangements in this particular market,” Sen. Michael S. Lee (R-Utah) said at the hearing. “Price matters in this market. I’ve heard that as prices go up, consumers may wear their lenses longer than they should, potentially doing damage to their eyes in an attempt to save money.”