PBM Middlemen Continue to Dodge Responsibility for Patient Suffering and Rising Drug Prices

April 9, 2019

COA Applauds the Senate Finance Committee for PBM Hearing as Part of National Efforts to Shed Light on PBM Abuses and Lower Drug Prices

More Investigation and Oversight Needed to Examine Adverse Impact of PBM Abuses on Patient Care

Statement from Ted Okon, Executive Director, Community Oncology Alliance (COA):

Today’s Senate Finance Committee hearing was a reminder that pharmacy benefit managers (PBMs) refuse to acknowledge their responsibility for causing completely unnecessary pain and suffering to patients with cancer, while also fueling higher drug prices through manufacturer rebates and by extorting fees from pharmacy providers.

PBMs claim to be part of the solution to what ails our health care system, but over the last several years it has become increasingly clear that they are actually a big part of the problem of high drug prices while also hurting patients.

PBMs have a financial vested interest in the highest drug list prices possible in order to maximize the rebates they demand from drug manufacturers, through spread pricing, and via so-called “