Drug makers have made no vows to lower prices, say PBMs

Amy Baxter | | Health Exec | Policy & Regulations

Several major pharmacy benefit managers (PBMs), functional middlemen that negotiate drug prices with manufacturers, say they’ve received no commitments from big drug makers to lower prices, The Hill reported.

Several PBMs, including Express Scripts, Humana, MedImpact, Optum RX and Prime Therapeutics, wrote to Sens. Elizabeth Warren, D-Massachusetts, and Tina Smith, D-Minnesota, that drug companies haven’t made any promises on prices, despite President Donald Trump’s blueprint to lower overall drug costs.

After Trump pressured some drug companies about specific drugs with rising prices, a few major manufacturers postponed or halted planned price spikes. However, no larger commitments with long-term prospects of lowering overall prices have come to fruition.

PBMs have been caught in the crossfire between lawmakers asking HHS about how to lower drug prices.

See the full story below:

Companies report no signs of drugmakers cutting prices, despite Trump pledge

Amy Baxter
Amy Baxter

Amy joined TriMed Media as a Senior Writer for HealthExec after covering home care for three years. When not writing about all things healthcare, she fulfills her lifelong dream of becoming a pirate by sailing in regattas and enjoying rum. Fun fact: she sailed 333 miles across Lake Michigan in the Chicago Yacht Club "Race to Mackinac."

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