Grassley, Cantwell Continue Campaign to Hold PBMs Accountable

Senators reintroduce pair of bills to improve transparency and curb deceptive practices by prescription drug middlemen

Sen. Chuck Grassley (R-Iowa), a senior member of the Senate Judiciary and Finance committees, and Maria Cantwell (D-Wash), chair of the Senate Commerce, Science and Transportation Committee, are continuing to press for transparency and fairness in the prescription drug supply chain. They partnered on several efforts to hold pharmacy benefit managers accountable for opaque and often deceptive practices that contribute to high drug prices for consumers. Now they’re reintroducing a pair of bills to continue their work.

“Year after year, the price of prescription drugs has skyrocketed, far outpacing inflation and leaving patients and taxpayers footing the increasingly outrageous bill. I’ve worked to battle price increases on many fronts, but we can’t truly restore sanity to drug prices without addressing pharmacy benefit managers. PBMs, the industry middlemen, operate in the shadows and drive up prices for consumers.  These bills bring about greater transparency to their industry and prevent unfair or anticompetitive practices that harm consumers,” Grassley said.

“For too long, Americans have been left in the dark while PBMs – the mysterious middlemen – manipulate prescription drug prices. We need to hold PBMs accountable for skyrocketing drug prices. With these bipartisan bills, I’m continuing to fight for accountability and transparency in the drug market so we can shine a light on unfair practices and make sure patients get a fair deal on the medications they need,” Cantwell said.

Prescription Pricing for the People Act (S. 113)

This bill, sponsored by Grassley and co-led by Cantwell, requires the Federal Trade commission (FTC) to examine the effects of consolidation in the PBM industry on pricing, as well as other potentially abusive behavior by PBMs.  The bill instructs the FTC to provide policy recommendations to Congress to improve competition and protect consumers. While the FTC has initiated a 6(b) study into PBM business practices, it is important they conduct a thorough and timely study of the pharmaceutical supply chain.

The Prescription Pricing for the People Act is also cosponsored Sens. Marsha Blackburn (R-Tenn.), Richard Blumenthal (D-Conn.), Thom Tillis (R-N.C.), Tommy Tuberville (R-Ala.), Mike Braun (R-Ind.), Shelley Moore Capito (R-W.Va.) and James Lankford (R-Okla.).

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