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Rep. Krishnamoorthi calls for Pharmacy Benefit Manager reform legislation
A longtime advocate for PBM reform, Krishnamoorthi has authored several bills aimed at increasing transparency and reducing prescription drug costs.
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Raja Krishnamoorthi / Image- Wikipedia
Indian American Congressman Raja Krishnamoorthi joined a bipartisan coalition of lawmakers on Dec 4 at a press conference in front of the U.S. Capitol, urging Congress to pass Pharmacy Benefit Manager (PBM) reform legislation before the year's end.
The congressman highlighted the detrimental impact of PBM practices on patients, local pharmacies, and drug pricing nationwide. “Pharmacy Benefit Managers (PBMs) are driving up prices of prescription drugs for consumers and killing competition by forcing independent and local pharmacies to close,” he said.
Rep. Krishnamoorthi pointed to a system dominated by three major PBMs, which operate as middlemen between drug manufacturers and patients, creating rebate structures that disproportionately benefit large chain pharmacies while sidelining independent ones.
In Illinois, this system has contributed to rising medication costs and turned 73 percent of counties into pharmacy deserts. Nationwide, over 2,000 local pharmacies have shut down in 2024 due to PBM pressures, he noted.
Krishnamoorthi emphasized the urgency of reform, citing widespread agreement among the Federal Trade Commission, 39 state attorneys general, and lawmakers across party lines. “The bipartisan consensus is evident, the need for reform is evident, and the desire for Congress to act is evident. Now is the time for Congress to end the stranglehold PBMs have on our health care system by moving to protect pharmacy competition and lower prescription drug costs for everyone,” he said.
A longtime advocate for PBM reform, Krishnamoorthi has authored several bills aimed at increasing transparency and reducing prescription drug costs. Most recently, he introduced the bipartisan Pharmacy Audit and Compensation Transparency (PhACT) Act, which directs the Department of Health and Human Services to investigate PBM auditing practices. He has also joined other lawmakers in urging the Department of Justice to examine the role of PBMs in exacerbating the opioid crisis.
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