Wyden and Crapo talk during a Finance Committee hearing in March 2022. Photo: Drew Angerer/Getty Images
In case there wasn't enough PBM legislation already, Senate Finance Chairman Ron Wyden and ranking member Mike Crapo on Thursday released a "framework" for legislation on the issue.
The framework doesn't get into a ton of details, but it identifies problems like spread pricing and a lack of transparency.
The document also floats "delinking PBM compensation from drug prices to align incentives for lower costs," as well as "enhancing PBM accountability to health plan clients to drive cost-cutting competition and produce better choices for beneficiaries."
Why it matters: It's notable that both Wyden and Crapo are on board with this effort, and it follows up on the hearing they held together.
It also adds to growing momentum around action on PBMs, including the House Energy and Commerce Committee and Senate HELP Committee.
What to watch: "I look forward to working on a bipartisan basis to craft legislation this summer that will take on the worst practices by drug pricing middlemen and ensure that the prescription drug supply chain is pulling in the same direction: more competition and lower costs for patients and taxpayers," Wyden said in a statement.
