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PBM Impact On Off-Patent Industry Condemned At Senate Hearing

Discussion Before US Senate Finance Committee Has Been Praised By The Biosimilars Forum

 
• By Chloe Kent

Witnesses at a US Senate Finance Committee Hearing have condemned the impact the “perverse” practices of pharmacy benefit managers have on off-patent drugs, often placing them on non-preferred tiers so that patients must use more expensive, branded medication.

100 dollar bill surrounded by white capsules
PBM practices make it harder for patients to acquire cheaper off-brand medication • Source: Shutterstock

Pharmacy benefit managers found themselves under the microscope at a recent hearing of the US Senate Committee on Finance, as academics, legal experts and industry stakeholders examined the impact the business practices of these organizations have on the wider healthcare ecosystem.

Led by senators Ron Wyden, D-OR, who chairs the Senate Finance Committee, and Mike Crapo, R-ID, the hearing received testimony from five witnesses about the “perverse incentives” that drive PBMs to “leverage their market

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