On July 23, members of the House Committee on Oversight and Accountability plan to ask executives at Express Scripts/Evernorth, CVS Caremark and OptumRx about the alleged anticompetitive policies, which committee members say raise prescription drug costs, harm independent pharmacies and obstruct patient care.
The three PBMs account for about 80% of the market share.
The called witnesses are Adam Kautzner, PharmD, president of Evernorth Care Management and Express Scripts; David Joyner, executive vice president of CVS Health and president of CVS Caremark; and Patrick Conway, MD, CEO of OptumRx.
The Federal Trade Commission reportedly plans to sue these companies and challenge how the PBMs handle rebates. A recent FTC investigation said PBMs have “enormous power” over drug prices, but FTC commissioners criticized the report.
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