US Senate Introduces Bill to Give FTC More Power Over PBMs

A new bill in the US Senate would, if enacted, give the Federal Trade Commission (FTC) more power to control the practices of pharmacy benefit managers (PBMs). The bipartisan bill would end spread pricing, which lets PBMs charge insurance companies more than they reimburse pharmacies. Likewise, PBMs would be banned from charging pharmacies remuneration fees to get back money from reimbursement payments.

According to Robert King of Fierce Healthcare, “The legislation also empowers the FTC and state attorneys general to enforce the provisions in the bill. PBMs must report on the amount of money they get from several practices such as spread pricing or clawback fees and any fees ‘PBMs charge affiliated pharmacies and non-affiliated pharmacies; and whether and why they move drugs into formulary tiers to increase costs.’”

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(Source: Fierce Healthcare, May 24^th, 2022)