Opinion: PBMs are inflating the cost of generic drugs. They must be reined in
These are not comfortable days in Washington for pharmacy benefit managers, the highly consolidated group of intermediaries that sit astride the drug supply chain. The Federal Trade Commission and Capitol Hill want to know how the PBMs’ arcane business practices impact pharmaceutical costs. This is welcome news for just about everyone else, including consumers of generic drugs.
PBMs manage prescription drug benefits on behalf of health insurers, large employers, and other payers. They have become significant behind-the-scenes players in determining patients’ access to medications and how much pharmacies are paid.
