ENDORSEMENT ALERT: GOP Doctors Caucus supports Carter bill to reduce prescription drug costs

WASHINGTON, D.C. - The GOP Doctors Caucus this week announced its endorsement of Rep. Earl L. "Buddy" Carter's (R-GA) bipartisan bill, the PBM Reform Act, which will reduce the cost of lifesaving drugs for patients by protecting patients and pharmacies from the harmful and anticompetitive business practices of pharmacy benefit managers (PBMs).

"Pharmacy Benefit Managers (PBMs) are middlemen that drive up the cost of lifesaving drugs for patients," said GOP Doctors Caucus Co-Chairs Rep. Greg Murphy, M.D. & Rep. John Joyce, M.D. "Reform is long overdue to rein in the abuse of PBMs, which prioritize profits over patients through shady practices such as pushing high-cost drugs, limiting consumer access, monopolizing the market, and reimbursing pharmacies at unacceptable rates. This legislation will make much-needed reforms to put patients first."

"It's time to bust up the PBM monopoly, which has been stealing hope and health from patients for decades. As a pharmacist, I've seen how PBMs abuse patients firsthand, and I believe that the cure to this infectious disease is transparency, competition, and accountability, which is exactly what our bipartisan package provides," said Rep. Carter. "I thank the GOP Doctors Caucus, of which I'm a proud member, for its endorsement today and urge House floor consideration of this critical bill."

The PBM Reform Act will:

• Ban "spread pricing" in Medicaid and move to a transparent system that ensures pharmacies are fairly and adequately reimbursed for serving Medicaid beneficiaries.

• Establish new requirements for PBMs under Medicare Part D, including a policy to delink PBM compensation from the cost of medications and increase transparency.

• Promote transparency for both employers and patients in their prescription drug plans, with semi-annual reporting on drug spending, rebates, and formulary determinations.

• Require the Centers for Medicare and Medicaid Services (CMS) to define and enforce "reasonable and relevant" contract terms in Medicare Part D pharmacy contracts and enforce oversight on reported violations.

Read full bill text here.

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