Pharmacy Benefit Managers Lobbying Pays Off as Congressional Reform Stalls
Washington, DC – Lobbying efforts by pharmacy benefit managers (PBMs) saw success as Congress failed to impose any regulations on their operations this spring. The Pharmaceutical Care Management Association, the largest trade group representing PBMs, significantly increased its lobbying spending by 71% in the first quarter of the year, from $2.8 million to $4.8 million. Despite the initial push for transparency and reforms in the PBM industry, the House passed a bill advocating for more …