House Oversight Panel Blames Drug Middlemen for Higher Prices

Drug benefits middlemen engage in anticompetitive practices to push patients toward higher-cost medicines and boost their profits, according to a Congressional report released Tuesday.

The House Committee on Oversight and Accountability posted its findings ahead of a hearing with leaders of the three largest pharmacy benefits managers, units of CVS Health Corp., Cigna Group and UnitedHealth Group Inc. Despite PBMs’ assertions that they lower medication costs, the House panel reached the opposite conclusion.

“Patients are seeing significantly higher costs with fewer choices and worse care,” the report said.

The findings add to pressure on the industry that’s facing scrutiny ...