Fines, Investigations and Fired PBMs ... in Only 8 months
If you're worried about the impact of the seemingly inevitable CVS/Aetna merger, consider the following:
On February 8, 2018, Arkansas Attorney General Leslie Rutledge opened an investigation into the CVS Caremark reimbursement rates to Arkansas pharmacies, much to the delight of her state's community pharmacies -- and the nation. Ms. Rutledge took a bold and remarkable stand against PBM abuse. Since that day:
PBMs In the News
Attorneys general fighting for right to regulate pharmacy middlemen
By Katie Wedell
Originally published in Dayton Daily News, 11/21/18
Ohio Attorney General Mike DeWine joined 32 other attorneys general in filing an amicus brief in the United States Supreme Court on Wednesday, supporting states’ rights to regulate pharmacy benefit managers and address the rising cost of prescription drugs.
Pharmacy benefit managers, or PBMs, act as middlemen between pharmacies, drug manufacturers, health insurance plans, and consumers for access to prescription drugs. The brief argues that regulation of PBMs is a matter for state authority in protecting the access to and affordability of prescription drugs.
“States’ experience has been that improving transparency in drug pricing requires regulation of PBMs,” the brief says. “Unlike other actors in the drug market, PBMs feature in almost all of the key transactions ..."