A group of 207 organizations strongly support the Pharmacy Benefit Manager Transparency Act (S. 4293) and urge Sens. Chuck Schumer (D-N.Y.) and Mitch McConnell (R-Ky.) to quickly bring it for a vote in the full Senate. The bill was introduced by Sens. Maria Cantwell (D-Wash.) and Chuck Grassley (R-Iowa) in May and passed the Senate Committee on Commerce, Science, and Transportation in June. The PBM Transparency Act empowers the Federal Trade Commission to increase drug pricing transparency and hold PBMs accountable for unfair and deceptive practices that drive up the costs of prescription drugs at the expense of consumers. It would ban deceptive unfair pricing schemes like spread pricing and prohibit arbitrary clawbacks of payments made to pharmacies. It also includes provisions to allow other state officials to bring action to enforce the law if the state attorney general lacks jurisdiction to do so and allow for a Government Accountability Office study of PBM practices. Here's the stakeholder letter, which was signed by a group that includes business organizations, patient and consumer groups, and pharmacy and physician stakeholders.
NCPA
