Execs from 5 PBMs agree to testify before Senate panel

Executives from five major pharmacy benefit managers have agreed to testify at a Senate Finance Committee hearing on high drug costs in April, according to The Hill.

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Leaders from Cigna, CVS, Humana, OptumRx and Prime Therapeutics have agreed to appear at the April 3 hearing.

Committee Chairman Chuck Grassley, R-Iowa, and ranking member Ron Wyden, D-Ore., invited the executives this month.

“Middlemen in the healthcare industry owe patients and taxpayers an explanation of their role. There’s far too much bureaucracy and too little transparency getting in the way of affordable, quality health care,” Mr. Grassley and Mr. Wyden told The Hill.

The committee’s hearing will be the third on drug-pricing this year. In February, seven pharmaceutical executives testified before Congress.

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