North Charlotte Today

Senator Thom Tillis and a group of his colleagues have called for immediate action in the Senate to lower the cost of prescription drugs by enacting reforms related to pharmacy benefit managers (PBMs). In a letter addressed to Senate Majority Leader Chuck Schumer and Minority Leader Mitch McConnell, the senators emphasized the urgency of the situation.

“We write to call attention to the immediate need to enact pharmacy benefit manager (PBM) reforms to reduce Americans’ prescription drug costs and protect patient access to pharmacies across our country," the senators stated in their letter. They highlighted the bipartisan efforts in the 118th Congress to address harmful PBM practices that threaten patient access to affordable drugs and community pharmacies.

The senators expressed concern over the detrimental impact of certain PBM tactics on pharmacies, with some PBMs reimbursing pharmacies below their costs for prescriptions, particularly in Medicare. They stressed the importance of proper oversight and transparency to address these issues promptly.

“Americans deserve and expect protection from inflated prescription drug costs, forced pharmacy closures, formulary manipulation, and barriers to their pharmacy of choice that result from harmful PBM tactics. We cannot sit idly by while patients suffer," the senators urged Senate leadership, calling for swift action to implement specific PBM reforms.

The letter received support from various industry organizations, including the National Association of Chain Drug Stores, the National Community Pharmacists Association, the Food Industry Association, the National Grocers Association, and the National Association of Specialty Pharmacy.

Senator Tillis, a vocal advocate for PBM reform efforts, has been actively working to reduce prescription drug costs. He has introduced legislation such as the Share the Savings with Seniors Act, the Medicare PBM Accountability Act, and the PBM Reporting Transparency Act to address pricing transparency, rebate pass-through, and negotiation practices within the pharmaceutical industry.

Additionally, Senator Tillis has urged the Federal Trade Commission to complete its investigation into PBMs and provide updates on the progress. His dedication to advancing solutions for lowering prescription drug costs underscores the importance of immediate action in the Senate to protect patient access to affordable medications.