No More Excuses After Pharma-Backed PBM Reform Becomes Law

PCMA cited CEI’s expert on prescription prices

Going further, a renewed focus on the way Big Pharma games the patent system to keep drug prices high is more important than ever after PBM reform, given the way it stands to tie the hands of employers as they combat rising drug prices. As Jeremy Nighohossian, senior fellow and economist at the Competitive Enterprise Institute (CEI) warns, “Misconceptions about drug prices have driven Congress to prescribe a specific structure for PBM contracts, one that puts the preferences of Congress and other stakeholders above consumer choice and welfare…Their bill will have negative unintended consequences and will put the benefits consumers have enjoyed over the past 20 years — transition to generics, lower overall costs, and newer medicines — at risk.”

Congress must now turn the page on Big Pharma’s blame game and start holding big drug companies accountable for their patent abuse that keeps Americans paying the highest drug prices in the world. At the same time, as transparency is maximized in the PBM space, now is the time for new sunlight on the role of wholesalers and PSAOs in the drug supply chain.

Read more at PMCA