On June 16, Senate Finance Committee Democrats released an RFI on proposals to lower the cost of prescription drugs. On Aug. 17, AMCP submitted comments in response.
Federal Update: Senate Introduces Comprehensive PBM Reform Legislation
On Dec. 4, Senators Mike Crapo (R-ID) and Ron Wyden (D-OR), Chair and Ranking Member of the Senate Committee on Finance, introduced the PBM Price Transparency and Accountability Act (S. 3345). The bill’s introduction signifies Congress’ appetite towards passing pharmacy benefit manager (PBM) reform, with many of the bill’s provisions included in earlier reform proposals adopted at the state level. This includes bans on the use of spread pricing arrangements, delinking PBM compensation from the price of a drug, and increased transparency into PBM contracts and business practices.
Related
On June 5, the New York State Assembly passed S.5939C/A.5882C, commonly referred to as the Patient Access to Pharmacy Act (PAPA), sending the pharmacy benefit manager (PBM) reimbursement legislation to Governor Kathy Hochul for consideration. The Senate previously passed the measure on May 28.
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