Pharmacy Benefit Managers (PBMs) administer prescription drug plans for sponsors (e.g., employers and insurers), negotiate drug prices with manufacturers, and negotiate reimbursement terms with pharmacies. This ConsumerGram analyzes the structure, conduct and performance of the industry and finds that the lack of transparency in costs and prices leads to anticompetitive risks. The result can mean higher prescription prices for consumers. Legislation under consideration in the Maryland General Assembly would help mitigate these risks and introduce much-needed transparency into this opaque industry.

You can read this ConsumerGram is available online.