PBMs to testify to Congress on April 3

|About: Cigna Corporation (CI)|By:, SA News Editor

Pharmacy benefit managers will get their day on Capitol Hill.

After grilling pharma executives last month, the Senate Finance Committee has invited Cigna (NYSE:CI), CVS (NYSE:CVS), Humana (NYSE:HUM), OptumRx (NYSE:UNH) and Prime Therapeutics to testify about high prescription drug costs in the U.S. on April 3.

PBMs, which negotiate drug benefits with manufacturers for insurance plans and employers, have been blamed for pocketing discounts instead of passing them along to patients.

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