Lawmakers, PBMs Play Blame Game During Tense Hearing On Capitol Hill
Members of the House oversight panel blamed the PBM industry for high prescription prices, but executives from three major pharmacy benefit managers—CVS Caremark, Express Scripts, and Optum Rx—pointed the finger at manufacturers.
Modern Healthcare:
PBM Congressional Hearing Gets Heated As Lawmakers Grill Execs
Lawmakers and executives from three major pharmacy benefit managers presented diametrically opposing views at a heated Capitol Hill hearing Tuesday, as major bills aimed at reining in the organizations remain stalled in Congress. Members of the House Committee on Oversight and Accountability blamed the highly concentrated PBM industry for raising drug prices and running independent pharmacies out of business, while leaders from CVS Caremark, Express Scripts and Optum Rx all countered that the sector in fact lowers prices and supports local pharmacies. (McAuliff, 7/23)
Stateline.org:
Angry Patients Spur New State Watchdogs To Bring Down Drug Prices
Spurred by fed-up consumers, states are trying to curb spiraling prescription drug costs by assembling special public boards to investigate and regulate pricing. The idea is similar to a local utility board: a public group that sets rules or makes recommendations to ensure that what they’re regulating — in this case, prescription medications — is affordable. (Vollers, 7/23)
Stat:
CVS And Its PBM To Pay Illinois $45 Million For Failing To Pass Drug Rebates
CVS Caremark, one of the largest pharmacy benefit managers in the country, agreed to pay at least $45 million to the state of Illinois to settle allegations that rebates were not passed through during a recent four-year period, according to a document obtained by STAT. (Silverman, 7/23)
Stat:
Analysis: U.S. Patent Office Software Mistakes Extend Patent Life For Drugs
Amid concerns that the pharmaceutical industry abuses the U.S. patent system, a new paper suggests one way to crack down on the problem — amend a little-known method for correcting mistakes that lengthen the life of a patent and, consequently, can greatly add to the cost of medicines. (Silverman, 7/23)
In related news —
KFF Health News:
World-Famous Wall Drug Isn’t Immune From Challenges Facing Rural Pharmacies
Stacey Schulz parks in a rear lot to avoid the crowded Main Street entrances to her local pharmacy. “During the summer, it’s kind of hectic,” she said after greeting the pharmacist and technician by name. That’s because Schulz’s pharmacy is tucked inside Wall Drug, a tourist attraction that takes up almost an entire block and draws more than 2 million visitors a year to a community of fewer than 700 residents. (Zionts, 7/24)
