U.S. Senator Maria Cantwell (D-Wash.), Chair of the Senate Committee on Commerce, Science and Transportation, will convene a full committee hearing titled “Bringing Transparency and Accountability to Pharmacy Benefit  Managers” on Thursday, February 16, 2023, at 10 a.m. ET. Americans are paying increasingly more for their necessary prescription medications and there is little transparency into how drug prices are determined. Pharmacy benefit managers (PBMs) have a large role in how Americans access their medications and how much they pay, but PBMs operate out of the view of regulators and consumers. This hearing will address how the “Pharmacy Benefit Manager Transparency Act” will bring transparency into PBM business practices and prohibit unfair or deceptive PBM conduct that drives up costs for consumers. The bipartisan S. 127, Pharmacy Benefit Manager Transparency Act of 2023, was introduced by Chair Cantwell and Sen. Chuck Grassley (R-Iowa), on January 27, 2023.

Witness Panel 1:

• U.S. Senator Chuck Grassley (R-Iowa)

Witness Panel 2:

• Ryan Oftebro, PharmD, FACA; CEO of Seattle-based independent pharmacy Kelley-Ross Pharmacy Group
• Debra Patt, M.D., Ph.D., MBA; Oncologist, Texas Oncology
• Erin Trish, PhD; Co-Director and Associate Professor of Pharmaceutical and Health Economics, Schaeffer Center, University of Southern California
• Casey B. Mulligan, PhD; Professor in Economics, University of Chicago

Hearing Details:

Full Committee Hearing
Thursday, February 16, 2023
10 a.m. ET
Committee Hearing Room, Russell 253

Due to limited space, the general public is encouraged to view this hearing via the live stream.