Why PBMs Are Not the High-Priced Drug Problem

There are many arguments for why prescription drug prices are so expensive in America. In 2024, the Federal Trade Commission (FTC) released a document pointing the finger at one key player: Pharmacy Benefit Managers (PBMs). Allegedly, PBMs mark up drug prices and keep the profits for themselves instead of passing savings on to consumers. Now, state legislatures in  Arkansas, Wisconsin, Illinois, and North Carolina are all pursuing bills that restrict the activities of PBMs.