Policy and Legal

Washington, D.C. – Following a press conference today in which Senate Finance Committee Chairman Ron Wyden (D-OR) and Ranking Member Mike Crapo (R-ID) called for pharmacy benefit manager reform, National Association of Manufacturers Managing Vice President of Policy Chris Netram released the following statement:

“Manufacturers stand with Chairman Wyden and Ranking Member Crapo in their calls for PBM reform as soon as possible. Manufacturers are committed to providing health benefits—with 93% of manufacturing workers eligible for employer sponsored health insurance—even as PBMs continue to drive an increase in health care costs. PBM reform, including in the commercial health insurance market, must increase transparency, ensure PBMs do not pocket manufacturer rebates and delink PBM compensation from the list price of medications.”

Background:

• As part of efforts to reduce health care costs for manufacturers and manufacturing workers, the NAM has advocated PBM reform consistently, including in the commercial health insurance market.
• PBMs increase health care costs at the expense of manufacturers and manufacturing workers by applying upward pressure to list prices that dictate what patients pay at the pharmacy counter, pocketing biopharmaceutical manufacturer rebates and failing to provide adequate transparency about their business models.
• The NAM supports reforms that will benefit employers by making PBM contracts more straightforward, transparent and predictable and workers by reducing the prices they pay out of pocket for their prescriptions.
• Last year, the NAM launched a six-figure television and digital advertising campaign calling for reforms to ensure PBMs pass on prescription drug discounts directly to workers and employers.

-NAM-

The National Association of Manufacturers is the largest manufacturing association in the United States, representing small and large manufacturers in every industrial sector and in all 50 states. Manufacturing employs nearly 13 million men and women, contributes $2.85 trillion to the U.S. economy annually and accounts for 53% of private-sector research and development. The NAM is the powerful voice of the manufacturing community and the leading advocate for a policy agenda that helps manufacturers compete in the global economy and create jobs across the United States. For more information about the NAM or to follow us on Twitter and Facebook, please visit www.nam.org.