In Pharma value chain, PBMs manage to benefit

JIM GREENWOOD | April 8, 2019

As 2020 Democratic presidential aspirants lean into their game of one-upsmanship on policies that would slow medical progress and undermine the U.S. biopharmaceutical industry, it’s a relief to see the Senate convene a hearing Tuesday on the self-dealing middlemen in the drug delivery system whose profits are largest when a drug’s list price is highest. Pharmacy benefit managers (PBM) help determine which medications get placed on insurance formularies and how much patients pay out of pocket for drugs they often can’t live without. However, PBMs are not primarily concerned with negotiating lower drug prices on behalf of patients, no matter what their press releases say. Their allegiance is to their shareholders and the health insurers who hire or own them. PBMs were originally conceived to help employers and insurers negotiate the best prices on prescription drugs, a fine idea in a market-based health care system like ours. But massive industry consolidation has fundamentally changed the way they do business. In private, PBMs ask biopharma companies to preserve high list prices and write them larger rebate checks in exchange for prime formulary placement. In public, these middlemen castigate drug companies for high prices while laughing all the way to the bank.

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Envision Pharma Group

Envision Pharma is an innovative, technology-led scientific communications group. We’re leaders in global publication planning, combining strategic consulting, market access & medical communications expertise, with integrated industry-leading technology solutions including Datavision, Visiontracker and Clear. Working with our partners Pharma, Life Sciences and Bio Tech we help turn vision into reality. Envision Pharma is an innovative, technology-enabled scientific communications group We are the leaders in compliant, global publication planning. Our industry-leading software solutions include Datavision, Visiontracker, and Clear. Envision’s core competencies have evolved to include strategic consulting, market access and medical communications expertise, supported by integrated software solutions. We work together with our partners in Biopharma, to turn vision into reality.

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Spotlight

Envision Pharma Group

Envision Pharma is an innovative, technology-led scientific communications group. We’re leaders in global publication planning, combining strategic consulting, market access & medical communications expertise, with integrated industry-leading technology solutions including Datavision, Visiontracker and Clear. Working with our partners Pharma, Life Sciences and Bio Tech we help turn vision into reality. Envision Pharma is an innovative, technology-enabled scientific communications group We are the leaders in compliant, global publication planning. Our industry-leading software solutions include Datavision, Visiontracker, and Clear. Envision’s core competencies have evolved to include strategic consulting, market access and medical communications expertise, supported by integrated software solutions. We work together with our partners in Biopharma, to turn vision into reality.

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