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Majority of voters support regulating pharmacy regulation managers, poll finds

A pharmacist pulls a bottle of medicine off a shelf.
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Increasing prescription drug prices is a reality impacting many Utahns — anda new national poll finds bipartisan support among voters for Congressional efforts to regulate health insurance middlemen companies known as Pharmacy Benefit Managers, or PBMs.

Mark Blum, executive director ofAmerica's Agenda: Health Care for All and managing director ofthe PBM Accountability Project, said PBMs are supposed to be an intermediary between drug manufacturers and patients' health plans.

He said instead of lowering drug costs, they are taking advantage of the system to increase revenues at the expense of others. Blum said Americans are concerned about the power PBMs have.

"Eighty-four percent — we could not distinguish between political party — are very concerned about PBMs," said Blum, "and over 80% want to see PBMs regulated by members of Congress and by state legislatures."

Blum added that 72% of Americans say they are more likely to vote for a candidate in the upcoming election cycle who supports regulating PBMs.

According to the polling data, respondents also support a number of specific policies and measures to regulate PBMs.

Blum said over 80% of Americans want to "break the link" between PBM profits and the price of drugs.

He added that the second reform Americans have largely agreed upon is requiring PBMs to pass on discounts to patients which they get from negotiating with drug manufacturers.

Lastly, participants showed strong support for more transparency into PBMs' contracts and the drug pricing process.

Blum said the three biggest PBMs in the U.S. — Express Scripts International, Optum RX and CVS Caremark — control 80% of the drug marketplace.

"They process the claims," said Blum, "payments for 80% of all drug transactions in the United States — just three companies. There are many more PBMs but they have minute market shares. What these large PBMs are able to do is wield this immense market power."

Blum said "the battle to reform the PBM industry and bring the price of prescription medicines under control has begun."

He encouraged people reach out to their elected officials and tell them this is an important issue.