In the War Against PBMs, Patient Interests Are Secondary

While drug prices keep climbing, states like Arkansas target the only actors with the power to curb them: Pharmacy Benefit Managers (PBMs). But by passing laws like Act 624, legislators risk doing the opposite of what they promise: increasing costs, reducing access, and leaving patients unprotected.

PBMs have become a convenient scapegoat in the drug pricing story. The narrative claims PBMs, which negotiate drug prices with pharmaceutical companies on behalf of consumers, are to blame for high prices. PBMs’ critics allege they act as greedy middlemen, driving up access costs.