The Federal Trade Commission’s lawsuit against three of the top pharmacy benefit managers (PBMs) on Sept. 20 is the first important step the federal government has taken to try to curb the power of PBMs. With little federal action, almost half the states have enacted legislation this year to try and combat high consumer drug costs, high PBM control in pricing negotiations, and high profits for PBMs.
Congress has failed to pass legislation to rein in PBMs, and with the upcoming election, it’s unclear how newly elected legislators would prioritize taking action against PBMs. So it’s likely that state legislation ...