US House Committee to Hold PBM Hearing
April 26, 2023
Today, April 26th, a representative for the pharmacy benefit manager (PBM) industry will speak before the US House Energy and Commerce Health Committee in a hearing focusing on improving transparency and countering anti-competitive practices. The industry, to be represented by Kristen Bass of the Pharmaceutical Care Management Association (PCMA), has faced significant public and congressional scrutiny in recent years over allegations that their processes are opaque and push smaller pharmacies out of the market.
According to Politico, “PCMA CEO JC Scott told Megan that his group will continue its aggressive campaign to convince lawmakers that PBMs help lower drug costs — countering millions of dollars of lobbying and advertising from big drugmakers. Scott worries that Congress is having a “knee-jerk reaction” to skepticism of the industry, even though PBMs are already making changes to respond to criticism.”
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(Source: Politico, April 26th, 2023)