Hearing on Third-Party Prescription Drug Programs
2023-05-26T15:29:10-04:00https://ximage.c-spanvideo.org/eyJidWNrZXQiOiJwaWN0dXJlcy5jLXNwYW52aWRlby5vcmciLCJrZXkiOiJGaWxlc1wvM2QwXC8wMTFcLzE2ODQ4Njg4MzZfMDExLmpwZyIsImVkaXRzIjp7InJlc2l6ZSI6eyJmaXQiOiJjb3ZlciIsImhlaWdodCI6NTA2fX19The House Oversight and Accountability Committee held a hearing on problems relating to pharmacy benefit managers (PBMs), which are companies that negotiate drug costs with manufacturers on behalf of health insurers and other payers. Both Republican and Democratic representatives said that the three largest PBMs--CVS Caremark, Express Scripts, and Optum Rx--own 80% of the PBM market and alleged that such companies artificially inflate drug prices. The lawmakers also charged that these major PBMs have conflicts of interest in the pharmaceutical industry and are not transparent with their business deals.
The House Oversight and Accountability Committee held a hearing on problems relating to pharmacy benefit managers (PBMs), which are companie… read more
The House Oversight and Accountability Committee held a hearing on problems relating to pharmacy benefit managers (PBMs), which are companies that negotiate drug costs with manufacturers on behalf of health insurers and other payers. Both Republican and Democratic representatives said that the three largest PBMs--CVS Caremark, Express Scripts, and Optum Rx--own 80% of the PBM market and alleged that such companies artificially inflate drug prices. The lawmakers also charged that these major PBMs have conflicts of interest in the pharmaceutical industry and are not transparent with their business deals. close
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