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AARP, pharmacists endorse Pharmacy Benefit Manager Transparency Act

( October 13, 2023, 16:19 GMT | Official Statement) -- MLex Summary: Pharmacists and the AARP gave their support for US Senator Maria Cantwell’s Pharmacy Benefit Manager Transparency Act, which aims to increase transparency and hold pharmacy benefit managers accountable for deceptive and unfair practices that drive up prescription drug costs and force independent pharmacies out of business. “Your legislation would prohibit 'spread pricing,' where a PBM charges insurance plans more for a prescription drug than what they pay the pharmacy and keeps the difference. It would also prohibit PBMs from retroactively reducing or 'clawing back' payments made to pharmacies. Further, this bill would increase transparency and accountability in the prescription drug supply chain, which will help inform other efforts to lower costs for consumers and taxpayers,” the endorsement said.Statement follows in full. Also see document below. ...

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