Opinion: PBMs aren’t opening access to lower-cost biosimilars. Reform is needed now
The Federal Trade Commission presents on Thursday its interim staff report, “Pharmacy Benefit Managers: The Powerful Middlemen Inflating Drug Costs and Squeezing Main Street Pharmacies.” It reveals how pharmacy benefit managers intentionally force people onto high-cost, high-rebate drugs.
This report comes on the heels of Congress also putting pressure on PBMs during a hearing that highlighted how these companies undermine patient health and increase drug costs. The House Committee on Oversight and Accountability also released a report that found PBMs steer patients towards higher-cost prescription drugs. All of this oversight momentum is evidence that the PBM Monopoly actively denies patients access to lower-cost, safe, and effective drugs — including biosimilars.
