Pharmacy Benefit Managers Put in Crosshairs of Drug Price Fight

A House investigation into the entities that manage prescription drug benefits should be accompanied by other actions that can help shed light on how US drug prices are formed, analysts say.

The House Committee on Oversight and Accountability on Wednesday launched an investigation into pharmacy benefit managers like CVS Caremark and Cigna’s Express Scripts and their impact on patients.

The probe was welcome news for the pharmaceutical industry and independent pharmacies, who argue that PBM fees and consolidation with major health plans and pharmacy chains has driven up drug costs and limited consumer choices. PBMs say they help deliver discounts ...