March 12,2019

Grassley, Wyden Invite 5 Pharmacy Benefit Managers to Drug Pricing Hearing

WASHINGTON – U.S. Senate Finance Committee Chairman Chuck Grassley of Iowa and Ranking Member Ron Wyden of Oregon today invited executives from five pharmacy benefit manager (PBMs) companies to testify before a committee hearing on Wednesday, April 3, 2019, on drug pricing in the United States, the third in a series of hearings examining prescription drug costs.
The companies invited include Cigna Corporation, CVS Caremark and CVS Health Corporation, Humana Inc., OptumRx and Prime Therapeutics LLC.
“Middlemen in the health care industry owe patients and taxpayers an explanation of their role. There’s far too much bureaucracy and too little transparency getting in the way of affordable, quality health care,” Grassley and Wyden said. “We’ve heard from pharmaceutical companies and it’s only fair that the committee has the opportunity to ask questions of other players in the health care supply chain. Every part of the industry has a role to play in lowering prescription drug prices. Witnesses from these companies should come prepared to provide real information and discuss real solutions.”
The Finance Committee held its first hearing on drug pricing on January 29 and its second hearing on drug pricing on February 26.
Links to the letters inviting the companies to testify can be found below.