Congress. (Photo: AP)
Representatives of the pharmacy benefit manager industry got an earful during a hearing before the House Oversight and Accountability Committee last week.
"We know that PBMs regularly engage in spread pricing, where PBMs overcharge payers and underpay pharmacies, and pocket the extra money," Chairman James Comer, R-Ky., said. "We also know that drug manufacturers pay rebates to PBMs in order to be placed in a favorable tier on a formulary, which can make it difficult for competing prescriptions — often generics or biosimilars — to get on formularies. These practices have real-world consequences, and impact constituents in all our districts."
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