Forbes May 13, 2023
This week, the Senate Health, Education, Labor and Pensions Committee advanced four new bills related to pharmacy benefit manager (PBM) and Food and Drug Administration reforms. This follows passage of five bipartisan bills out of the Senate Judiciary Committee in February.
The key piece of legislation, known as the Pharmacy Benefit Manager Reform Act, was ultimately agreed to by a vote of 18-3. This implies that the legislation will go to the floor of the Senate to be debated and eventually voted on.
The Pharmacy Benefit Manager Reform Act (S. 1339), led by Chairman Sanders (I-VT) and Ranking Member Cassidy (R-LA), bans spread pricing and certain claw backs by PBMs, and requires that rebates be passed through to plan sponsors.
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