Look Into PBM Competitive Concerns: Grassley

Sen. Charles Grassley (R-IA) has called on the Federal Trade Commission to find a way to overcome a 2/17 deadlocked vote on initiating a study into the business practices of pharmacy benefit managers (PBMs). In a 3/9 letter to FTC chair Lina Khan, Grassley says PBMs “operate with little to no transparency, making it very difficult if not impossible to understand the flow of money in the prescription drug marketplace and how PBMs determine the prices for prescription drugs.”

Grassley says there is widespread bipartisan support for examining PBMs and looking into whether they are causing Americans to pay higher prices for prescription drugs. “A study into the business practices of these intermediaries would provide transparency and insight about possible competitive harms,” Grassley concludes.

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