Show-Me State Times

U.S. Senator Josh Hawley has criticized pharmacy benefit managers (PBMs) for their role in increasing drug prices, claiming they profit at the expense of Missouri residents. During a session with Pharmaceutical Care Management Association President J.C. Scott, Hawley questioned why Americans pay significantly more for prescription drugs compared to other countries.

“You’re supposed to be making drugs more affordable for consumers – would you say that you are succeeding?” asked Senator Hawley, suggesting the answer was negative. He further remarked, “Either you’re the worst negotiators in the history of the world, or something’s wrong with your business model.”

Hawley highlighted several issues within the pharmaceutical industry:

- The three largest PBMs control 80% of the market.

- Two counties in Missouri lack access to any pharmacies due to insufficient competition.

- In 2023, 73 pharmacies closed across Missouri, affecting 19 counties.

- From 2017 to 2022, the top three PBMs generated $7.3 billion in revenue from dispensing drugs beyond their estimated acquisition costs.

“Missourians are getting screwed while you’re getting rich,” concluded Senator Hawley. He stressed the need for Congress to pass his proposed legislation aimed at dismantling alliances between insurance companies, PBMs, and pharmacies.

Senator Hawley has been active in advocating for lower drug prices. Recently, he introduced bipartisan legislation on this issue and urged Congress to support it following an executive order by President Trump targeting Big Pharma.