Senate Finance Committee Chairman Mike Crapo (R-Idaho) and Ranking Member Ron Wyden (D-Oregon) introduced a bill Thursday that aims to bring more transparency into the practices of pharmacy benefit managers.
PBMs have come under a lot of scrutiny in recent years due to their vertical integration with insurers and practices that inflate drug prices. The top three PBMs — CVS Caremark, Cigna’s Express Scripts and UnitedHealth Group’s Optum Rx — control about 80% of the prescription drug market.
The bill, titled the PBM Price Transparency and Accountability Act, would delink PBM compensation from negotiated rebates….
