Payer Roundup—Senate Finance Committee invites PBMs to drug hearing
March 13, 2019 / Jacqueline Renfrow
The U.S. Senate Finance Committee, led by Chairman Chuck Grassley and Ranking Member Ron Wyden, invited executives from five pharmacy benefit managers (PBMs) to testify before a committee on drug pricing. The hearing, set for April 3, will be the third in a series of hearings looking at the costs of prescription drugs. Cigna, now the parent company of Express Scripts, CVS, Humana, OptumRx and Prime Therapeutics have been invited to the hearing. As pharmaceutical companies testified on the issue, the committee feels it is only fair to let PBMs talk about their role in lowering prescription drug prices. Grassley and Wyden ask that these companies come prepared to discuss real solutions. “We welcome the opportunity to share with the committee the role of PBMs in advocating on behalf of consumers and plan sponsors to make prescription drugs accessible and affordable,” a spokesperson from the Pharmaceutical Care Management Association (PCMA) told FierceHealthcare.