Posted by Michael Wonder on 08 Apr 2019
This week, five pharmacy ‘middlemen’ head to Capitol Hill’s hot seat. Some of them have an easier defence than others.
8 April 2019 - President Trump has blasted them as “middlemen,” known for their “dishonest double dealing.”
Key Democrats decry the industry as a “black box” under a “veil of secrecy.” Pharmaceutical companies, pharmacists and doctors incessantly pummel them, in ads and in testimony, as the key culprits behind the nation’s rising drug prices.
Now, the “middlemen” — pharmacy benefit managers, entities that aim to help insurance companies negotiate lower drug prices by managing formularies and extracting rebates — will have an unprecedentedly high-profile chance to defend themselves. Five of the industry’s top executives head to Capitol Hill this week for a pair of back-to-back hearings Tuesday and Wednesday. Whether their appearances manage to assuage some of those criticisms — or whether they succumb to tough questions — remains to be seen.
