ARTICLE | Politics, Policy & Law

Bipartisan bill seeks to rein in PBMs

Bill from Sens. Grassley, Cantwell would prohibit spread pricing, other practices

May 25, 2022 1:01 AM UTC

Sens. Chuck Grassley (R-Iowa) and Maria Cantwell (D-Wash.) introduced legislation Tuesday that seeks to deter PBMs from engaging in practices that increase the costs of prescription drugs at the expense of consumers, insurance companies and pharmacies.

The Pharmacy Benefit Manager Transparency Act of 2022 gives the Federal Trade Commission greater oversight power over PBMs. The prospects for passage of the bill are unclear; previous attempts to rein in the PBM industry have failed. ...