U.S. Congress invites pharmacy benefit managers to third drug pricing hearing

FILE PHOTO: U.S. Senator Chuck Grassley speaks with reporters as he arrives for the weekly Senate Republican caucus luncheon at the U.S. Capitol in Washington, U.S., May 22, 2018. REUTERS/Jonathan Ernst

Pharmacy benefit managers administer drug benefits for employers and health plans and also run large mail-order pharmacies. Drugmakers say they are under pressure to provide rebates to the handful of PBMs dominating the market to get their products included on preferred coverage lists. The committee’s chairman, Republican Senator Chuck Grassley, and its top Democrat, Senator Ron Wyden, on Tuesday invited executives from UnitedHealth Group’s Optum, Cigna Corp, Humana Inc, CVS Health Corp, CVS Caremark and Prime Therapeutics LLC to the hearing, the third in a series examining rising prescription drug costs.

Allow pharmacies to procure pharmaceuticals from around the world at competitive prices. Grocery stores buy food from around the world in order to provide the food we want at reasonable prices. Shouldn't it be the same for prescription drugs?

everude

We’re being sold sub standard goods all for profit🤔

Thank you.

This is boring stuff that is used for campaign footage. Nothing happens really.

I'm sure this will accomplish nothing.

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Senate panel asks CVS and four other pharmacy middlemen to testify about drug pricesSenate Finance Committee Chairman Chuck Grassley, R-Iowa., and Ron Wyden, D-Ore., the committee's ranking member, asked Cigna, CVS, Humana, OptumRx and Prime Therapeutics to testify on Capitol Hill on April 3. Grassley is looking much perkier since the embalming Ask their lobbyists to testify too.
Source: CNBC - 🏆 12. / 72 Read more »