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April 28, 2023

Senators Bernie Sanders (I-VT) and Bill Cassidy (R-LA) Introduce Legislation Targeting PBMs

Senators Bernie Sanders (I-VT) and Bill Cassidy (R-LA), the Chair and the Ranking Member of the Senate Health, Education, Labor, and Pensions Committee, recently introduced multiple pieces of bipartisan legislation, including one bill they are calling the Pharmacy Benefit Manager Reform Act of 2023 that targets Pharmacy Benefit Managers (PBMs) for expanded oversight and enforcement. In particular, the legislation would seek to ensure that PBMs remit 100%  of  rebates, fees, alternative discounts and other remuneration from drugmakers, distributors, wholesalers and rebate aggregators to applicable health plans; and would impose increased transparency requirements in these areas. The HELP Committee will mark up the bills on May 2, 2023. This legislation follows approval in March by the Senate Committee on Commerce, Science and Transportation to send additional PBM legislation, the Pharmacy Benefit Manager (PBM) Transparency Act, to the full Senate. 

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