Pharmacy Benefit Managers Face Renewed Scrutiny From Senators

Lawmakers took their latest shot at tackling high drug costs Thursday as they considered legislation that would prohibit certain practices by the entities that manage prescription drug benefits.

The Senate Commerce Committee held a hearing on a bill (S.127) from Chair Maria Cantwell (D-Wash.) and Sen. Chuck Grassley (R-Iowa) that would prohibit pharmacy benefit managers from charging health plans more for a drug than they reimburse to pharmacies. The Pharmacy Benefit Manager Transparency Act would also require PBMs to report annually to the Federal Trade Commission certain information about payments they receive from health plans and fees charged ...