Pharmacy Benefit Managers (PBM) sit in the center of our prescription drug system, coordinating between insurance companies, drug manufacturers, and pharmacies. This gives them a uniquely powerful position in the market. However, a report last year from The House of Representatives and another more recently from the Federal Trade Commission (FTC) argue that PBMs have used this position to drive up drug costs for patients. Without federal action to create transparency in the PBM market consumers will continue to pay higher prices for their medicine.
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