This month, President Biden signed an executive order directing federal health departments to create plans within 90 days to lower prescription drug costs that are burdening so many Americans. Any robust program to meaningfully bring financial relief to patients at the prescription counter must address the root cause of skyrocketing drug prices — pharmacy benefit managers (PBMs).
A new report by one of us (Rep. Buddy Carter) reveals the outsized role PBMs play in making medications unaffordable and inaccessible. Federal health departments can achieve the bipartisan goal of reducing medication prices by taking this opportunity to rein in PBMs’ predatory practices.