Healthcare DIVE April 10, 2019
In the finger pointing over high drug costs, PBM executives had their chance before the Senate Finance Committee on Tuesday, sticking to their familiar tune of blaming manufacturer list prices for fueling skyrocketing prices. They also floated some solutions — including speeding up the availability of biosimilars and creating more competition throughout the supply chain.
The hearing was light on drama despite the hype, and few lawmakers grilled executives on the issues. The PBMs seemed to escape unscathed after the over two-hour hearing, which featured executives from Cigna, CVS Caremark, UnitedHealth’s Optum Rx, Humana and Prime Therapeutics. Shares of the PBMs remained relatively unchanged despite being called to appear before the powerful committee.
Barclay analysts characterized it as a benign...
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