These little-known companies are driving up prescription drug costs. Ron is fighting to stop them.
No American should have to make tough choices between affording their life-saving medications and putting food on the table. Unfortunately, too many families and seniors are familiar with that struggle as prescription drug costs continue to rise.
Pharmaceutical companies are just one piece of this puzzle. Pharmacy middlemen, known as Pharmacy Benefit Managers, or PBMs, play a huge role in driving up the cost of prescription medications. Ron has always believed that these companies are too often overlooked in the conversation about bringing down the high cost of medications, which is why he's been laser-focused on holding them accountable.
Thankfully, we have good news. Just a few days ago, Ron chaired a meeting of the Senate Finance Committee, where they passed groundbreaking legislation to hold pharmacy middlemen accountable for their role in driving the high cost of prescription drugs.
Originally created to help insurers contain drug spending, PBMs have evolved into huge profit-making organizations lacking transparency and regulation. Watchdogs say they are driving up the cost of medication, with independent pharmacies and consumers bearing the brunt of it.
The consequences of this out-of-whack market are felt by taxpayers and American families every time they pick up a prescription at the pharmacy counter.
It's time for a change, and Ron is leading the charge.
He's been sounding the alarm on these profit-grabbing schemes for years, and has continued to reach across the aisle to work on comprehensive legislation to help put a stop to these schemes and lower prescription drug costs for all Americans. Because everyone deserves access to the medication they need, at a price they can afford.
One thing is certain: Ron is going to continue fighting as hard as he can to lower costs for American families and seniors, and this is a huge step in the right direction.
Team Wyden