NCPA Commends Wyden PBM Transparency Proposal
ALEXANDRIA, Va. (March 15, 2017) National Community Pharmacists Association (NCPA) CEO B. Douglas Hoey, RPh, MBA, issued the following statement today on legislation introduced by Sen. Ron Wyden (D-Ore.), the Creating Transparency to Have Drug Rebates Unlocked (C-THRU) Act:
"NCPA agrees with Senator Wyden's goal for more transparency from pharmacy benefit managers (PBMs). There's mounting evidence that PBM profits grow in lock step with—and contribute to—rising prescription drug costs. A big part of that problem is the manufacturer rebate revenue retained by PBMs, which is this intended focus of this legislation.
"In addition, it is critical to address head-on the direct and indirect remuneration (DIR) fees on pharmacies which lead to higher costs to Medicare and for beneficiaries. NCPA also calls for enactment of the bipartisan S. 413 / H.R. 1038 to tackle this aspect of the drug pricing problem comprehensively.
"NCPA will continue to advocate for greater PBM transparency because it is vital to facilitating major changes to drug benefit management in the U.S. Namely, a better alignment of the interests of patients, plan sponsors and providers alike."