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Pharmacy benefit managers would face increased oversight by US FTC under new legislation

( May 24, 2022, 17:09 GMT | Official Statement) -- MLex Summary: US Senators Maria Cantwell and Chuck Grassley introduced legislation aimed at empowering the Federal Trade Commission to increase drug pricing transparency and hold pharmacy benefit managers accountable for unfair and deceptive practices that drive up the costs of prescription drugs at the expense of consumers. The Pharmacy Benefit Manager Transparency Act of 2022 would ban unfair pricing schemes; prohibit arbitrary clawbacks of payments made to pharmacies; and require PBMs to report to the FTC how much money they make through spread pricing and pharmacy fees.  Statement follows in full. Also see document below. ...

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