The Prescription Drug Problem & PBM Reform
December 08, 2023
Biden's pharma fix: New 'march-in' rule allows HHS to seize patents of pricey drugsPres. Biden's administration on Thursday unveiled a new framework allowing authorities the right to seize certain drug patents and license them to other manufacturers in order to lower drug prices.
August 21, 2023
Blue Shield of California drops CVS, taps Amazon: What's behind the PBM shakeupAs lawmakers scrutinize the nation's pharmacy benefit managers, the California insurer expects to save $500 million in annual drug costs by replacing most of CVS Health's PBM services by January 2025.
February 08, 2024
Senators want 'progress report' of FTC's 18-month probe of pharmacy benefit managersThe 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.
February 27, 2024
AGs in 39 states urge Congress to pass 3 pending PBM reform billsThe state AGs sent a letter to Senate and House leaders, highlighting the urgent need for federal action to mandate that pharmacy benefit managers increase transparency into their practices by sharing pricing with health plans.
March 07, 2024
Mark Cuban and FTC's Lina Khan at White House to discuss PBM reformCost Plus Drugs CEO Mark Cuban was invited to the White House, along with other business and government leaders, to discuss PBM reform, while a trade group for pharmacy benefit managers said they were not invited.
March 14, 2024
Mark Cuban's Cost Plus Drug Co. partners with first hospital systemCost Plus Drug Co., which sells drugs at a discounted rate, has reached an agreement with Community Health Systems, based in Franklin, Tenn., to purchase certain hard-to-source pharmaceuticals, such as epinephrine.
May 06, 2024
Sen. Sanders launches probe of 'outrageous' prices of Novo Nordisk's Wegovy, OzempicSen. Bernie Sanders, chair of the Senate Health, Education, Labor and Pensions Committee, has demanded to know why Americans pay "$1,349 a month for [weight loss] prescription drugs that cost less than $5 to manufacture."
May 09, 2024
Pfizer agrees to settle 10K Zantac lawsuits, as GSK trial links heartburn drug to cancerThe Pfizer settlements come as GSK, a previous Zantac manufacturer, defends itself in an ongoing trial, while Sanofi, which recalled the drug in 2019 over cancer claims, agreed to pay more than $100 million to resolve its Zantac cases.
May 15, 2024
Navigating GLP-1 insurance coverage with the right pharmacy benefits managerProviders, insurers and regulators need to come together to ensure the safe use of these drugs, mitigate failed treatment attempts, reduce side effects and provide better insurance plans to support patients in need.
May 15, 2024
FTC targets 300 Big Pharma 'junk patents,' sends warning letters to top drugmakersThe agency has stepped up its campaign against drugmakers' improper listing of patents in the FDA's Orange Book, which it contends are ploys intended to delay generic competition, by disputing junk patent listings for 300 drugs.