Last year, the nation spent $723 billion in prescription drugs alone - the rest of the world combined paid nearly the same amount. This highlights the severe pricing issues in the U.S. that are scrutinized by Congress. Beyond just PBMs and Big Pharma, the contribution from drug distributors and hospitals also exacerbates these costs.
The bipartisan Congressional scrutiny emphasizes the need for transparency in how pharmacy benefit managers and Big Pharma operate, revealing their roles in skyrocketing prescription drug prices.
Paul Markovich, CEO of Blue Shield of California, pointed out that it's not only pharmacy benefit managers and pharma companies influencing costs. Drug distributors and hospitals also contribute significantly.
The FTC's lawsuit against the Big 3 PBMs regarding insulin practices is just one step in a broader effort to tackle the rising costs of prescription drugs.
#prescription-drugs #pharmacy-benefit-managers #big-pharma #healthcare-costs #congressional-scrutiny
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