Forbes August 15, 2024
The nation’s attention remains fixed on pharmacy benefit managers. Following a series of House Oversight Committee meetings on PBMs role in rising drug costs and an FTC investigation into anti-competitive business practices at PBMs, a growing number of states are litigating PBMs for price-fixing. And just last week, the Arkansas Insurance Department Commission penalized four PBMs millions of dollars for paying pharmacies below the national average drug acquisition cost, an illegal action according to state law.
But how do these lawsuits and allegations affect everyday Americans, many of whom have never heard of PBMs? In short: significantly, even if they don’t know it. As I’ve noted previously, pharmacy benefit managers are middlemen that negotiate between pharmacies, insurers, drug manufacturers and...
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