U.S. Senator Steve Daines is co-sponsoring a bipartisan bill to shed light on the drug pricing process and the middlemen responsible for negotiating prescription drug costs.
The Bipartisan bill, “The Prescription Pricing for the People Act of 2019”, helps shed light on the pharmacy benefit manager industry by examining the effects of consolidation on pricing and other potentially-abusive behavior.
Specifically, the bill requires the Federal Trade Commission to study the role and recent merger activity of PBMs as well as possible anti-competitive behavior.
The bill requires the FTC to provide policy recommendations to congress to improve competition and protect consumers. Daines introduced the bill with U.S. Senate Finance Committee chair Chuck Grassley and Senator Maria Cantwell.