Wyden, Crapo, Menendez, Blackburn, Tester and Marshall Introduce Bipartisan Legislation to Reform PBMs and Bring Down the Cost of Prescription Drugs

Press Release

"This legislation will put a stop to one of the most egregious practices driving up the price of prescription drugs in Medicare: pharmacy benefit managers getting paid based on the price of a drug. Instead of fighting for lower prices, this practice has encouraged drug middlemen to favor higher-priced drugs in their negotiations, which means seniors are forced to pay more for their prescriptions. I'm pleased to introduce this bill on a bipartisan basis, and I look forward to working with Ranking Member Crapo and other members of the Finance Committee to include this policy in the committee's forthcoming effort to address pharmacy benefit manager practices that are driving up prices for seniors and taxpayers."

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