Biosimilars Forum Welcomes PBM Transparency Act
US Proposals Would See Spread Pricing Outlawed And Rebates Disclosed
Senators Maria Cantwell and Chuck Grassley have introduced a bill which would limit pharmacy benefit managers’ ability to engage in “unfair and deceptive” business practices, a move which has been welcomed by the Biosimilars Forum.
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The Association for Accessible Medicines has criticized draft legislation regarding US drug pricing negotiations for the impact proposed new laws could have on generic and biosimilar drugs.
The US FTC’s announcement of an inquiry into PBMs will be music to the ears of the country’s generics and biosimilars industry, which has long called for action on abusive practices that undermine access.
Drug buying groups and pharmacy benefit managers are leaving generic drug producers unable to compete even when they have viable products due to concentration of buyer power, the Association for Accessible Medicines has highlighted.