Category: pharmacy benefit manager (PBM)

DeSantis Signs Bill Aiming to Lower Prescription Drug Costs

May 3, 2023
FloridaFlorida Gov. Ron DeSantispharmacy benefit manager (PBM)Prescription Drug PricesRegional & State NewsState NewsUSUS News
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Florida Gov. Ron DeSantis has signed legislation designed to lower prescription drug prices by, among other things, curbing the power of industry middlemen, the pharmacy benefit managers (PBMs). Those third-party administrators typically process and pay drug claims of health plans, and negotiate discounts with drug manufacturers and pharmacies. In a signing ceremony on May 3,…

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Experts Say Transparency Needed in Drug Pricing Practices

March 30, 2023
America's Health Insurance Planshealth insurancelack of transparencypharmacy benefit manager (PBM)PoliticsUSUS News
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Sen. Ron Wyden (D-Ore.) says it’s time for Congress to shine a light on a business with extraordinary control over prescription drug prices—Pharmacy Benefit Managers (PBM). “I believe this is an industry going in the wrong direction,” Wyden said during a hearing hosted by the Senate Finance Committee on March 30. The hearing was titled…

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DeSantis Moves to Lower Prescription Drug Prices, Regulate ‘Middlemen’

January 12, 2023
Big PharmaFlorida Gov. Ron DeSantispharmacy benefit manager (PBM)PoliticsUS
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In a bid to bring down prescription drug prices in Florida, Gov. Ron DeSantis, on Jan. 12, announced initiatives aimed at drug manufacturers and pharmacy benefit managers (PBMs), the companies that act as middlemen in the process. The measures, which he’ll work with the legislature to carry out, “will protect consumers and increase accountability,” the…

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Drug Prices Can Drop 50-60 Percent If Practices of Prescription Drug Middlemen Properly Addressed: Former FDA Official

July 14, 2022
drug pricesFTCPeter Pittspharmacy benefit manager (PBM)Policies & ImpactsUS
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The Federal Trade Commission (FTC) on June 7 launched a comprehensive probe into pharmacy benefit manager (PBM) companies—those acting as middlemen that manage prescription drug benefits on behalf of health insurers, large employers, and other payers. According to the FTC, it plans to “examine pharmacy benefit managers’ role at the center of the U.S. pharmaceutical…

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