Experts Say Transparency Needed in Drug Pricing Practices

Sen. Mike Crapo (R-Idaho) questions U.S. Trade Representative Katherine Tia during a Senate Finance Committee hearing on Capitol Hill in Washington on March 31, 2022. Drew Angerer/Getty Images

Sen. Ron Wyden (D-Ore.) says it’s time for Congress to shine a light on a business with extraordinary control over prescription drug prices—Pharmacy Benefit Managers (PBM).

“I believe this is an industry going in the wrong direction,” Wyden said during a hearing hosted by the Senate Finance Committee on March 30. The hearing was titled “Pharmacy Benefit Managers and the Prescription Drug Supply Chain.”