PBM Oversight Act Introduced By Sens. Carper And Grassley
The bipartisan bill would provide the Centers for Medicare and Medicaid Services with oversight powers for pharmacy benefit managers. Sen. Bernie Sanders, meanwhile, is in a NIH nominee standoff with the White House over drug pricing.
The Hill:
Carper, Grassley Introduce Bipartisan Bill To Strengthen PBM Oversight
Sens. Tom Carper (D-Del.) and Chuck Grassley (R-Iowa) introduced legislation Thursday aimed at providing the federal government with more power to oversee pharmacy benefit managers (PBM) amid continued bipartisan scrutiny over the companies’ role in drug pricing. The two lawmakers introduced the PBM Oversight Act of 2023, which would give the Centers for Medicare and Medicaid Services (CMS) the authority to oversee PBM decision-making. (Choi, 7/20)
The Hill:
Sanders’s ‘Game Of Chicken’ Over NIH Nominee Alarms Health Advocates
Sen. Bernie Sanders (I-Vt.) is in a standoff with the White House over drug pricing, frustrating and confusing public health experts who worry his demands will stymie the Biden administration’s nominee to lead the National Institutes of Health (NIH). Monica Bertagnolli is a renowned cancer surgeon who currently leads the National Cancer Institute. She has the support of a broad cross section of the medical research community, which has been lobbying for her confirmation. (Weixel, 7/20)
Stat:
Sanders Wants To Replace Patents With Prizes For Drug Inventions
Sen. Bernie Sanders (I-Vt.) will finally get a study of his proposal to do away with drug patents and other intellectual property protections in favor of rewarding inventions with prize money. Sanders has been pushing the prize approach since he was a House representative, many years ago. (Wilkerson, 7/20)
More on PBMs —
Modern Healthcare:
FTC PBM Competition Guidance Rescinded
The Federal Trade Commission unanimously voted Thursday to advise state and federal authorities to disregard its past statements opposing policies that would require pharmacy benefit managers to reveal more about their business practices. (Berryman, 7/20)
Politico:
FTC Further Scrutinizes Drug Industry Middlemen
The Federal Trade Commission voted Thursday to disavow its previous guidance opposing transparency requirements for pharmacy benefit managers. The 3-0 vote comes after the FTC said last year it would study PBMs, companies that run drug benefit programs for health insurers, and order the six largest firms to turn over records. The agency expanded its inquiry in May to include two group purchasing organizations, which negotiate the rebates drug manufacturers pay to the PBMs when health insurance plan members are prescribed medicines. (Leonard and Wilson, 7/20)
