NAAG Urges Congressional Action on Pharmacy Benefit Managers Practices

photo of shelves in pharmacyThe National Association of Attorneys General (NAAG) recently sent a letter to Congressional leaders urging them “to engage in meaningful debate and reform of the current practices of pharmacy benefit managers (PBMs) and to take decisive action to reform the way PBMs conduct business and bring more transparency to their work.”  The NAAG states “pharmaceutical buyers and sellers have little choice but to employ PBMs, allowing them to extract both monopoly profits from individuals and monopsony profits from the market.”  Written on behalf of 39 state attorneys general, the NAAG letter urges “legislative action to address potential abuses within the PBM industry,” highlighting The DRUG Act (S1542/HR6283), Protecting Patients against PBM Abuses Act (HR2880), and the Lower Costs, More Transparency Act (HR5378).