In recent months, the pharmaceutical industry has faced scrutiny as Congress debated reforms for pharmacy benefit managers (PBMs). Despite the efforts of PBMs to influence the outcome, Congress did not take any action to regulate their operations. This lack of action was a result that lobbyists in the industry were seeking.
The Pharmaceutical Care Management Association, the largest trade group for PBMs, significantly increased its lobbying spending by 71% from $2.8 million to $4.8 million in the first three months of the year. However, despite their efforts, there were initiatives in Congress that aimed to increase transparency and reform how PBMs function in various sectors.
The House passed a package focused on transparency, while Senate committees passed reforms for PBMs in Medicaid, Medicare, and commercial insurance markets. Additionally, public health programs required funding in a government spending bill, allowing members of Congress to avoid voting on individual issues.
Despite these efforts, PBMs faced challenges during negotiations as they acted as intermediaries between drugmakers and health insurers. With increasing scrutiny and potential reforms looming over them, industry lobbyists worked hard to maintain the status quo and prevent any significant changes to how PBMs operate. Ultimately, however, Congress did not take any action to regulate their operations further than what had already been established.