House Oversight head calls on PBM execs to correct hearing testimony

US House Committee on Oversight and Accountability chairman James Comer is calling on the chief executives s of three major Pharmacy Benefit Managers (PBMs) - CVS Caremark, Express Scripts, and Optum Rx - to correct the record for statements made during their appearance before the House Oversight Committee at a hearing titled, “The Role of Pharmacy Benefit Managers in Prescription Drug Markets Part III: Transparency and Accountability.”

At the House Oversight Committee’s hearing, the PBM chief executives made statements that contradict the Committee’s and the Federal Trade Commission’s findings about the PBMs’ self-benefitting practices that jeopardize patient care, undermine local pharmacies, and raise prescription drug prices. The chief executives for CVS Caremark, Express Scripts, and Optum Rx claimed they do not steer patients to PBM-owned pharmacies. The executives also made claims contradicting the Committee’s and FTC’s findings regarding contract negotiations, contract opt outs, and payments to pharmacies.

In the letters to the CEOs, chairman Cromer wrote: “The Committee highlights 18 USC § 1001, which states, ‘in any matter within the jurisdiction of the executive, legislative, or judicial branch of the Government of the United States, knowingly and willfully –…(2) makes any materially false, fictitious, or fraudulent statement or representation;…shall be fined under this title, imprisoned not more than 5 years.’