U.S. Senator Shelley Moore Capito and a bipartisan group of 20 colleagues have called for immediate action to lower the cost of prescription drugs by reforming pharmacy benefit managers (PBMs). The letter, led by U.S. Senator James Lankford, was addressed to Senate Majority Leader Chuck Schumer and Minority Leader Mitch McConnell.
The senators emphasized the urgency of the situation, stating, “Immediate action is needed to address these harmful practices by PBMs. Americans deserve and expect protection from inflated prescription drug costs, forced pharmacy closures, formulary manipulation, and barriers to their pharmacy of choice that result from harmful PBM tactics.”
Senator Capito has been actively involved in advocating for PBM reforms. She previously joined a letter urging the Federal Trade Commission to investigate PBMs and introduced the Protect Patient Access to Pharmacies Act to ensure fair pricing practices. Additionally, Senator Capito co-sponsored the Pharmacy Benefit Manager Transparency Act, which aims to bring more transparency to PBM operations.
The letter, supported by organizations like the National Association of Chain Drug Stores and the National Community Pharmacists Association, highlights the importance of bipartisan efforts in addressing the challenges posed by PBMs.
In the letter addressed to the Senate leaders, the senators stressed the need for immediate action to protect patient access to affordable medications and pharmacies. They called for reforms that would address concerns about inflated drug costs and harmful PBM practices that threaten the sustainability of pharmacies.
The senators concluded by urging for swift action, stating, “We cannot sit idly by while patients suffer. We urge you to work as early as this month to enact specific PBM reforms that address these concerns and capitalize on the bipartisan effort and momentum in the House and Senate.”
