PCMA Applauds the Administration for Enacting Legislation to Ensure Patients Pay the Lowest Price for Prescription Drugs

WASHINGTON, Oct. 10, 2018 /PRNewswire/ -- The Pharmaceutical Care Management Association (PCMA) released the following statement on President Trump signing into law S. 2553/ S. 2554, the Know the Lowest Price Act of 2018 and the Patient Right to Know Drug Prices Act.

"PCMA strongly supports S. 2553 and S. 2554, legislation that will help ensure America's patients always pay the lowest cost for their medications at the pharmacy counter, whether it's the cash price or the patient's cost-sharing.

Fortunately, this legislation aligns with standard practice used by pharmacy benefit managers in the marketplace. 

In addition, S. 2554 takes an important step toward increasing competition by requiring drug manufacturers to report to the Federal Trade Commission pay-for-delay agreements that could slow biosimilars from entering the market.

We commend the President and the bill's congressional sponsors for their leadership on these issues."

PCMA is the national association representing America's pharmacy benefit managers (PBMs). PBMs administer prescription drug plans for more than 266 million Americans who have health insurance from a variety of sponsors including: commercial health plans, self-insured employer plans, union plans, Medicare Part D plans, the Federal Employees Health Benefits Program (FEHBP), state government employee plans, Medicaid plans, and others.

SOURCE Pharmaceutical Care Management Association