Press Release: Sens. Moran, Grassley, Cantwell Introduce Legislation to Create PBM Accountability

FOR IMMEDIATE RELEASE – February 19, 2025

Contact: Angela Lingg | 202-228-6519

Sens. Moran, Grassley, Cantwell Introduce Legislation to Create PBM Accountability

WASHINGTON. – U.S. Senators Jerry Moran (R-Kan.), Chuck Grassley (R-Iowa) and Maria Cantwell (D-Wash.) introduced legislation to combat the high cost of prescription drugs and provide greater transparency of pharmacy benefit managers (PBMs).

The Pharmacy Benefit Manager (PBM) Transparency Act would ban deceptive and unfair pricing schemes, prohibit arbitrary claw backs of payments made to pharmacies and require PBMs to report to the Federal Trade Commission (FTC) on how much money they make through spread pricing and pharmacy fees.

“PBMs have engaged in deceptive and unfair drug pricing practices for years without proper oversight, driving up the cost of prescription drugs and hurting Kansas pharmacies,” said Sen. Moran. “PBMs should be prohibited from unfairly manipulating costs, and this legislation would provide more transparency through reporting requirements to the FTC to help level the playing field for our pharmacies.”

“Iowans are fed up with the skyrocketing cost of prescription drugs and eager for Congress to act to put a stop to pharmacy benefit managers’ shady practices,” said Sen. Grassley. “These bipartisan legislative solutions will bring much-needed transparency to prescription drug pricing and ensure the federal government can effectively target the abusive practices that unfairly drive up drug costs.” 

“For too long, Americans have been left in the dark while PBMs – the mysterious middlemen – manipulate prescription drug prices,” said Sen. Cantwell. “We need to hold PBMs accountable for skyrocketing drug costs. With these bipartisan bills, I’m continuing to fight for accountability and transparency in the drug market so we can shine a light on unfair practices and make sure patients get a fair deal on the medications they need.” The senators were joined by Sens. Joni Ernst (R-Iowa), Peter Welch (D-Vt.), Shelley Moore Capito (R-W.V.), Jeanne Shaheen (D-N.H.), Roger Marshall (R-Kan.), Martin Heinrich (D-N.M.), Cindy Hyde-Smith (R-Miss.), Thom Tillis (R-N.C.) and Mike Rounds (R-S.D.) in introducing this legislation.