Over the past year, Congress has spent a conspicuously large amount of its limited legislative time in efforts to constrain the activities of pharmacy benefit managers, or PBMs. Four different House committees and three Senate Committees have held hearings or marked up proposed legislation that addressed PBMs. With many must-do items and looming deadlines (such as avoiding a government shutdown, for example) and not a lot of legislative days on its calendar, it’s worth asking why it has focused on this industry. The flurry of motion on the issue suggests it has little to do with actually reducing drug prices.
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