PBM bills advance in House and Senate

US House of Representatives and Senate Committees this week passed legislation to control the way pharmacy benefit managers (PBMs) can profit by increasing drug price.

According to an analysis by the trade group the BioIndustry Organization (BIO), this is important because PBMs manage prescription drug benefits for insurers and payers, with three PBMs controlling 80% of all US prescriptions. PBMs receive rebates from drug makers, and should pass savings on to patients - but research shows they often profit  while making drugs costlier.

The Modernizing and Ensuring PBM Accountability (MEPA) Act, introduced by Committee Chair Ron Wyden (D-OR) and Ranking Member Mike Crapo (R-ID), passed the Senate Finance Committee by a bipartisan vote of 29-1.