Press Releases and Blog
Economists Explain Policies Restricting Pharmacy Benefits Will Lead To Higher Costs, Less Competition, And Fewer Choices For Employers In case you missed it, Joe Grogan,
New Episode Of “The Pharmacy Benefit” Podcast Discusses Why We Need Competition To Drive Down Prescription Drug Costs
Alex Brill and Angela Banks Dive into the Critical Need for Competition, Big Drug Companies’ Abuse of the Patent System, and Biosimilar Adoption In case
Pharmacy Benefit Companies Provide Employers with Coverage Choices and Flexibilities t hat Work for their Unique Needs Pharmacy benefit companies offer employers, including small and
Rebates Secured by Pharmacy Benefit Companies Result in Savings for Patients and Employers — and Have No Correlation to High Drug Prices
Pharmacy benefit companies push big drug companies for price concessions through rebates. 99.6 percent of rebates get passed directly to Medicare Part D plans, and
Expert Witness and Lawmakers Highlight Root Cause of High Rx Prices: Big Pharma’s Anti-Competitive Tactics
Hearing Confirms Big Drug Companies Would Benefit from Misguided Proposals Targeting Pharmacy Benefits This week, the U.S. House Committee on Oversight and Accountability held a
Pharmacy Benefit Companies Lower Rx Costs and Provide Critical Flexibility for Employers and Labor Unions
The evidence is clear: pharmacy benefit companies lower prescription drug costs for employers, labor union plans, taxpayers, and patients. While big drug companies push a
(Washington, D.C.) — Pharmaceutical Care Management Association President and CEO JC Scott issued the following statement on a new report by the U.S. Health and Human
(Washington, D.C.) — Pharmaceutical Care Management Association (PCMA) President and CEO JC Scott issued the following statement on the 2023 Medicare Part D proposed rule
(Washington, D.C.) — The Pharmaceutical Care Management Association (PCMA) is announcing the additions of Angela Banks as Vice President, Policy; Jonathan Buxton as Director, State
PCMA Launches New Ad Campaign on Pharma Industry Attempts to Deflect Blame for High Prescription Drug Costs
(Washington, D.C.) — The Pharmaceutical Care Management Association (PCMA), today, is announcing a new ad campaign, “Drug Manufacturers are Pointing Fingers…Again.” With Congress poised to permanently
(Washington, D.C.) — Pharmaceutical Care Management Association (PCMA) President and CEO JC Scott issued the following statement on a new white paper issued by the Institute
(Washington, D.C.) — The Pharmaceutical Care Management Association (PCMA) today released a new report, “Drug Manufacturer Strategies for Keeping Drug Costs High,” on pharmaceutical industry pricing tactics
ICYMI: New Report Shows Cost of Big Drug Companies’ Patent Abuse, Advocates for a More Affordable Market Call for Solutions to Increase Competition
Study Finds Yearly Cost of Patent Thickets on Five Top-Selling Brand Name Drugs Ranges from $1.8 to $7.6 Billion.
The Pharmaceutical Care Management Association, which represents PBMs, praised the law for postponing the rebate rule, but once again passed off blame for high drug prices to pharmaceutical companies and health insurers. “The sad reality is that, rather than focus on how to ensure every American can access affordable coverage and high-quality healthcare, the finger pointing is in full swing in Washington with big pharma blaming PBMs and insurers for prices only they can set,” a spokesperson wrote in an email.
A spokesperson for the Pharmaceutical Care Management Association, the trade group representing PBMs, said that, while the pharmacy middlemen “almost always” favor the use of generics when substantially equivalent versions to branded drugs exist, they’ll respect attestations from doctors that another contraceptive drug not on the formulary is “medically necessary” and must be covered at no cost to the consumer.
“Our job is to drive down costs on behalf of the consumer and those paying the bill for health insurance,” said JC Scott, president of the Pharmaceutical Care Management Association, the trade group that represents pharmacy benefit managers (PBMs). “Without us, there’s nothing standing between the consumer and the … drivers of high drug costs. I’m confident that once the FTC digs in and understands that, they’ll reach that same conclusion.”
Pharmaceutical Care Management Association, the leading PBM trade group, claimed the number of independent pharmacies has actually grown. “Over the last 10 years, the number of U.S. independent pharmacies has increased by nearly 2,000 stores of 8%,” PCMA said in a written statement to the Washington Examiner. “That represents a stable — if not growing — market for independent pharmacies in this country. A healthy independent pharmacy market and strong partnership with PBMs helps to lower prescription drug costs, create competition, coordinate better care, reduce medication errors, and increase medication adherence — all of which is squarely in the interest of pharmacies, patients, and the health care system.”
The Pharmaceutical Care Management Association, which represents pharmacy benefit managers, said commercial insulin copays currently average $23.
Blaming healthcare costs on PBMs is tempting, but misguided. Both the Trump and Biden administrations have bludgeoned the industry, because it seems like the simple way to cut the Gordian knot of American medicine in half. But it’s not: Without PBMs, prescription drugs would cost patients and the government even more.
“There’s this narrative out there, this assumption, that community pharmacies are closing and they’re closing in escalating rates,” PCMA President and CEO JC Scott said
The market for prescription drugs is exceedingly complicated, in part because there are many disparate actors…
Washington is a town not known for bipartisan agreement. But its swarms of drug-company lobbyists appear to have united both parties in opposition to pharmacy