Good morning ... Congratulations to Justify, the first horse since 1882 to win the Kentucky Derby (which is limited to 3-year-olds) without having raced as a 2-year-old.
Bonus Derby content: Watch the track announcer call Saturday's race.
Photo: Mike Kemp/In Pictures via Getty Images
The Pharmaceutical Care Management Association — the trade organization for pharmacy benefit managers — is announcing a leadership change this morning. CEO and President Mark Merritt will announce his plans to step down at the end of the year, according to people familiar with the change.
Why it matters: Individual PBMs have grown frustrated with PCMA. It's “not able to get out ahead of the debate” over the industry’s role in setting the price of prescription drugs, a person familiar with the situation told me.
What they’re saying: “When [Merritt] came aboard in 2003, he started from scratch and built PCMA into one of the most effective advocacy and lobbying groups in American health care,” Express Scripts’ Tim Wentworth, PCMA’s board chairman, said in a statement.
What’s next: Member companies are looking for a replacement who will guide PCMA toward a more aggressive public posture. I’m told the decision should happen before Merritt steps down at the end of the year, but hasn’t yet been made.
Flashback: PBMs against the world.
Warren Buffett held his widely watched annual shareholder meeting over the weekend. Buffett’s right-hand man, Charlie Munger, caught Bob Herman’s attention after he made two interesting health care comments, both coming in response to questions about pharmacy benefit managers that were flagged by Chip Cutter, an editor at LinkedIn.
There's a lot going on this week in the House Energy and Commerce Committee's response to the opioid crisis.
More: The DEA on Friday suspended a wholesaler in Louisiana over its handling of opioids, the first such move since 2012, per the Washington Post.
A menu board at Chipotle. Photo: Chris Hondros/Getty Images
Today is the deadline by which large chain restaurants — those with more than 20 locations — must display calorie counts on their menus or menu boards.
Context: It's a product of the Affordable Care Act, but the Trump administration has had to handle some of the implementation, thanks to lawsuits from the food industry.
Yes, but: "Menu labeling may be taking our eye off the ball. By offering us what seems to be a solution, it may prevent us from trying other things that might work better," Indiana University professor Aaron Carroll wrote in the New York Times in 2015.
What we're watching this week: Trump's speech on drug prices, which has been delayed until later in the week.
What else are you watching? I'll be watching my inbox for your answers: firstname.lastname@example.org.