1. Pink Sheet

Senate Commerce Leaders Want An FTC Study Into PBM Business Practices – And More

 
• By Ramsey Baghdadi

Committee Chair Maria Cantwell (D-Wash.) solicits advice from witnesses for additional authorities to conduct oversight of PBMs and pushes for a GAO study.

Congress and FTC
Sen. Marsh Blackburn (R-Tenn.) wants more studies of PBMs, but said FTC should not move forward with any rulemaking “without input from Congress.” • Source: Nielsen Hobbs; the Pink Sheet | Shutterstock images

The Senate Commerce Subcommittee hearing on 5 May on prescription drug market was a distinctly negative event for pharmacy benefit managers, though the legislative solutions presented during the session focused on further study by government agencies.

The Subcommittee on Consumer Protection, Product Safety, and Data Security focused on “black box” PBM business practices with few mentions of drug manufacturers pricing practices. Witnesses included antitrust lawyer David Balto, Northwestern’s Craig Garthwaite, PCMA CEO 

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