Illustration: Sarah Grillo/Axios
Executives from the three biggest PBMs will testify at the House Oversight Committee on July 23, the panel confirmed to Axios.
Why it matters: The hearing adds to mounting bipartisan scrutiny of PBMs as lawmakers consider a flurry of legislation aimed at lowering drug costs by targeting certain PBM business practices.
Driving the news: House Oversight spokesperson Jessica Collins told Axios executives from CVS Caremark, Express Scripts and OptumRx have agreed to testify at the hearing.
- The hearing was originally planned for earlier this spring, but got postponed.
- It will provide a platform for members of both parties to press the executives about whether they are passing enough of the discounts they receive along to patients and plan sponsors, as well as other practices.
- An FTC report earlier today further heightened the attention on the industry and its close integration with insurance companies.
Between the lines: House Oversight is not the primary committee writing PBM legislation, so it is unclear what direct effect the hearing might have on legislative efforts.
- But proposals like increased transparency and "delinking" of PBM income from the price of a drug could make it into a year-end health care package.
