A View from Congress: Role of Pharmacy Benefit Managers in Pharmaceutical Markets
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Serial Number
Levin Center Identifier
Document Date
2021-12-10
Report Length
19 pages
Policy Agendas Project Major Code
Policy Agendas Project Minor Code
Additional, Minority, Dissenting Views
Report Type
Found Using Methodology
Yes
Committee(s)
Subcommittee(s)
Commission(s)
Idependent Author(s)
Brief Executive Summary
The Committee on Oversight and Reform examines the issue of rising prescription drug costs in the United States, emphasizing the role of Pharmacy Benefit Managers (PBMs) in the marketplace. The report states that while Democrats have focused on attacking pharmaceutical companies, there's a need to examine the practices of PBMs, which act as intermediaries in negotiating drug costs. The report highlights the rise in drug prices and patient out-of-pocket costs, particularly over the past decade coinciding with PBM market consolidation. The report outlines twenty-two legislative solutions aimed at reforming the pharmaceutical market and reducing drug costs for Americans.