House report delivers damning verdict on PBMs
A report has been presented by the House Committee on Oversight and Accountability entitled The Role of Pharmacy Benefit Managers (PBMs) in Prescription Drug Markets.
The report sets out to say that PBMs - playing the role of intermediaries between drug manufacturers and health insurance providers—should be the best-positioned entities to decrease the cost of prescription drugs.
“The three largest PBMs, CVS Caremark, Cigna Express Scripts and UnitedHealth Group’s (NYSE: UNH) Optum Rx, control more than 80% of the market and are vertically integrated with health insurers, pharmacies, and providers,” the report states.
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