pharmacy benefit managers (PBMs) News

Arkansas Sues Drugmakers, Pharmacy Benefit Managers Over Insulin Costs

Arkansas’s attorney general on Wednesday accused drugmakers and pharmacy benefit managers of colluding to drive up the price of insulin drugs, the latest in a series of lawsuits to take aim at skyrocketing insulin costs. The lawsuit, filed in Pulaski …

Large Private Employer Coalition Creates Pharmacy Benefit Management Firm

A nonprofit coalition of nearly 40 private employers, including U.S. retailers Walmart and Costco, said on Monday it has launched a new company that would offer pharmacy benefit management (PBM) services for employers. With the COVID-19 pandemic weighing severely on …

Top Insurance Regulatory Developments of 2020: Part 1

This is the first installment of a two-part look at the top 10 insurance regulatory developments of 2020 by attorneys at Locke Lord. The first part covers COVID-19, Insurtechs, Data Privacy, Race Equality and Pharmacy Benefit Managers. The second installment …

Oklahoma Bill Would Eliminate Third-Party Pharmacy Benefit Managers

If passed, proposed legislation would have Oklahoma joining the growing number of states backing away from using Pharmacy Benefit Managers (PBMs) to administer prescription-drug programs. Sen. Paul Scott, R-Duncan, has filed Senate Bill 1901 to replace the state’s third-party PBMs …

Trump Administration Halts Plan to Sideline Pharmacy Benefit Managers

The White House abandoned a push to end rebates paid to middlemen who negotiate drug prices on behalf of health insurers, a move that could turn scrutiny back on how drugmakers themselves set prices. President Donald Trump has made lowering …

CVS to Expand Medical Services to 1,500 Stores

CVS Health Corp. said it would offer expanded health services such as nutrition counseling and blood pressure screenings in 1,500 stores by the end of 2021, following through on plans announced during the pharmacy chain’s 2018 acquisition of health insurer …

States, Congress Questioning Pharmacy Benefit Managers’ Role in Drug Prices

Several states are probing pharmacy-benefit managers’ business practices in government-sponsored health programs, adding to the scrutiny the middlemen face in Washington for their role in the cost of drugs. At least three state attorneys general are investigating PBMs, in addition …

How to Keep Big Pharma from Winning Drug Price Wars: Joe Nocera

Robin Feldman is a law professor at the University of California Hastings with a particular expertise in antitrust and patent issues. She is also one of those professors who are unusually good at explaining complex issues in terms laymen (like …

Kentucky Investigating Drug Overcharges by Pharmacy Benefit Managers

Kentucky Attorney General Andy Beshear said on Thursday he had launched an investigation into allegations that pharmacy benefit managers (PBMs) had overcharged state health insurance programs for drugs and discriminated against independent pharmacies. The investigation comes against the backdrop of …

Cigna CEO Says Ending Benefits Manager Rebates Won’t Harm Commercial Market

The U.S. government’s proposal to eliminate rebates that pharmacy benefit managers receive from drugmakers will not have a meaningful impact on growth, and does not affect the commercial market, Cigna Corp. Chief Executive Officer David Cordani said on Friday. Investors …