Bipartisan Congressional scrutiny has revealed tactics used by pharmacy benefit managers (PBMs) and Big Pharma that contribute to high prescription drug costs in the U.S. The FTC has sued the Big 3 PBMs for practices related to insulin pricing. CEOs of pharmaceutical companies have testified before Congress about drug pricing. Other entities such as drug distributors and hospitals also play a role in driving up costs. Last year, the U.S. spent $723 billion on prescription drugs, similar to the rest of the world combined. The issue of high drug costs in the U.S. involves multiple players within the healthcare industry.
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Video: Besides, Pharma and PBMs, Who Drives Up Drug Costs?
