Last week, Missouri Attorney General Andrew Bailey joined 38 other state attorneys general in urging Congress to pass legislation prohibiting Pharmacy Benefit Managers (PBMs) and their related entities from owning or operating pharmacies. This bipartisan coalition, which includes states from Alaska to Wyoming, aims to address what they see as an issue within the pharmaceutical industry that allows PBMs to inflate drug prices and limit patient access to medications, as per the Missouri Attorney General Office release.
Attorney General Bailey stated that PBMs, initially created to lower drug costs, have instead used their position to profit at the expense of patients. The coalition's letter argues that PBMs control critical stages of the pharmaceutical supply chain, including manufacturing, distribution, and retail, resulting in unfair pricing and limiting access for independent pharmacies.
The attorneys general are calling for legislation to separate PBMs from pharmacy operations to restore market balance and ensure affordable care. They emphasize the dominance of three major companies controlling 80% of the prescription drug market, and seek to prevent anti-competitive practices that benefit chain pharmacies over independents. The coalition's unified appeal to Congress stresses the need for action to address these concerns.
