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US Senators Grassley, Cantwell reintroduce bills targeting PBM consolidation, problematic pricing

( January 26, 2023, 12:00 GMT | Official Statement) -- MLex Summary: US Senators Chuck Grassley and Maria Cantwell reintroduced two bills designed to "hold pharmacy benefit managers accountable for opaque and often deceptive practices that contribute to high drug prices for consumers." The Prescription Pricing for the People Act requires the Federal Trade commission to investigate price effects of consolidation in the PBM industry and provide policy recommendations to Congress to improve competition and protect consumers. The Pharmacy Benefit Manager Transparency Act bans unfair and deceptive pricing schemes and require PBMs to report to the FTC how much money they make through spread pricing and pharmacy fees. Documents and full statements below....

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