In a bid to pull the curtain back on drug pricing, Senator Ron Wyden (D-Ore.) introduced a bill Wednesday that would require pharmacy benefit managers to disclose information about the controversial rebates paid by drug makers to win coveted spots on health plan formularies.
The legislation would force pharmacy benefit managers, which are the middlemen that negotiate prices between drug makers and health plans, to publicly post aggregated data about rebates and discounts that are obtained on behalf of Medicare Part D and Medicare Advantage plans.
The bill, which is called the Creating Transparency to Have Drug Rebates Unlocked Act, or C-THRU, comes amid growing turmoil over the prescription drug costs and, in particular, the largely hidden role played by pharmacy benefit managers, or PBMs.
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