The U.S. Senate Finance Committee on July 26 passed legislation to hold pharmacy benefit managers (PBMs) more accountable. The bill includes two pieces of legislation offered by U.S. Sen. John Thune (R-SD) that also address the transparency of PBMs.
“I’m pleased this committee is taking steps to provide needed transparency around PBMs and the prescription drug supply chain,” Sen. Thune said. “There are notable policies in this bill that will improve access to community pharmacies, ensure patients have access to lower cost prescription drugs and increase transparency in an opaque drug supply chain.
“I’m pleased to see two bipartisan bills I championed included in the modified mark,” he added.
Specifically, the Finance Committee voted 26-1 to approve the Modernizing and Ensuring PBM Accountability Act, which also would increase the transparency of the prescription drug supply chain and improve patient access to pharmacies, according to a bill summary provided by Sen. Thune’s office.
The legislation includes two bills that Sen. Thune championed: the Strengthening Pharmacy Access for Seniors Act and the PBM Reporting Transparency Act.
The bipartisan PBM Reporting Act, S. 2493, which Sen. Thune introduced on July 25 with U.S. Sens. Thom Tillis (R-NC) and Mark Warner (D-VA), would require the Medicare Payment Advisory Commission to prepare a report for Congress on various PBM practices and pricing models and the effects on patients’ out-of-pocket expenses, according to a bill summary provided by Sen. Thune’s staff.
The bipartisan Strengthening Pharmacy Access for Seniors Act, S. 2405, would require PBMs to reveal the criteria used to classify drugs that are dispensed by certain pharmacies and prevent them from steering patients to certain pharmacies that limit their options. Sen. Thune sponsored the bill on July 20 with three original cosponsors, including U.S. Sen. Sherrod Brown (D-OH).
“In order to truly determine the impact of PBMs’ practices on patients and the drug supply chain, transparency measures must improve,” said Sen. Thune earlier this month. “This bipartisan legislation would shed light on the practices that occur in the prescription drug supply chain and ensure patients have choice in where they get their medicine.”
While pleased with the inclusion of his two bills into the larger PBM bill, Sen. Thune said he is also disappointed the committee decided to move so quickly on the larger legislation.
“Many of us have been working on important policies that would further improve transparency and access to prescription drugs for patients. “Many of these policies would fit within the framework of this bill, but we have been waiting on technical assistance from the agencies or CBO scores,” he said. “I will be offering several amendments… that include these policies and would further improve this legislation.”