On Feb. 20, the National Association of Attorneys General sent a scathing letter to congressional leaders excoriating PBMs and calling for federal PBM reform, citing work that has already been done at the state level. “A small number of PBMs hold significant market power and are reaping abundant profits at the expense of the patients, employers, and government payors the PBMs are supposed to help,” says the letter’s signatories from 39 states. “Pharmaceutical buyers and sellers have little choice but to employ PBMs, allowing them to extract both monopoly profits from individuals and monopsony profits from the market. Moreover, PBMs often dictate reimbursement rates and rules to independent pharmacies, making it difficult for many to survive.”
NCPA
