The shortfall of generic drugs, which comprise the majority of medications that Americans consume, has been a chronic problem, starting well before the mid-2020s.

A recent hearing at the U.S. House of Representative Health Subcommittee of the Energy and Commerce Committee heard testimony from shareholders and policy experts on costs and price transparency.

In January, the Biden administration pledged to increase public access to Medicare information to conduct research studies that can influence public health reforms, but this week the CMS announced a proposal to diminish access.

The Federal Trade Commission launched its inquiry of the 6 largest PBMs in June 2022, after Sen. Chuck Grassley (R-Iowa) had pressed the commission for years to review their role in determining prices for prescriptions like insulin.