PBM Reform Coalition Applauds Bipartisan Efforts by Senate Committee on Commerce, Science and Transportation

Washington, DC (February 15, 2023) — Tomorrow, February 16, the Senate Committee on Commerce, Science and Transportation will hold a hearing titled “Bringing Transparency and Accountability to Pharmacy Benefit Managers.” The Coalition for PBM Reform, which represents patients, employers, providers and pharmacies, is proud to have a representative from one of its member organizations, the Community Oncology Alliance, serving as a hearing witness and advocating for our shared goal of preserving patient access to affordable medication and protecting the doctor-patient relationship in all communities across the nation. Prior to the hearing, The Coalition for PBM Reform released the following statement:

“For too long, Pharmacy Benefit Managers (PBMs) have operated in the shadows–quietly inflating the prices of life saving medications in order to make huge profits. PBMs leverage their position as the middlemen of the drug supply chain to pocket billions of dollars a year at the expense of patients. The Coalition for PBM Reform applauds the Senate Committee on Commerce, Science and Transportation, for not only shining a spotlight on these anticompetitive practices, but for considering legislation that would mark a significant step in curbing PBMs’ predatory practices that leave patients struggling to afford life saving medications. We thank Chairwoman Cantwell and Sen. Grassley for their leadership and look forward to working with them, committee members and the many pharmacy champions in Congress to secure passage of the PBM Transparency Act in the 118th Congress.”