Sater champions effort to cut ‘middlemen’ in pharmaceutical industry

Sater champions effort to cut ‘middlemen’ in pharmaceutical industry

The Missouri Times, 2/11/20

JEFFERSON CITY, Mo. — Flanked by industry representatives, Sen. David Sater touted legislation aimed at providing greater transparency between the pharmaceutical industry and customers. 

SB 971, introduced by the Republican senator earlier this month, would rein in the role of what is known as pharmacy benefit managers (PBMs). PBMs operate as a “middleman” between manufacturers, pharmacies, and insurance companies and have been known to engage in spread pricing — the practice of charging insurance holders a higher amount than a pharmacy to make a profit.  Read more...