Rutledge Praises White House’s Recommendation on PBMs
February 13, 2018
Says, ‘prescription reimbursement rates dropped lower than pharmacy purchase costs’
LITTLE ROCK – Arkansas Attorney General Leslie Rutledge commends the White House’s Reforming Biopharmaceutical Pricing at Home and Abroad report, which calls for decreasing the concentration of Pharmacy Benefit Managers (PBMs). Three PBMs make up 85 percent of the current market, meaning they have significant market power against manufacturers, health plans and covered consumers.
“I am pleased to see the White House taking an interest in a practice that negatively impacts Arkansans ,” said Attorney General Rutledge. “PBMs have decreased their reimbursement rate for pharmacies in the Arkansas Health Insurance Marketplace, placing a new strain on these integral local businesses. I have started my investigation into CVS Caremark, but intend to demand information from any PBM harming Arkansans.”
Local pharmacists are being forced to cover the additional costs of the rate changes, which impacts their bottom line and could lead to these businesses closing their doors.
The Attorney General will continue to aggressively investigate the PBMs responsible and requests that any citizen harmed by these rate changes contact the office.