Official Senate voting records and announcements

Bipartisan Bill by Senators Warren and Hawley Forces Health Insurers, PBMs to Divest Pharmacies in Three Years

Dec 11, 2024, 02:08 PM

A bipartisan group of U.S. lawmakers, led by Senators Elizabeth Warren and Josh Hawley, is preparing to introduce legislation that would compel health insurers and pharmacy-benefit managers (PBMs) to divest their pharmacy businesses within three years. The proposed bills, to be introduced in both the Senate and the House, aim to address the conflicts of interest and market manipulation by PBMs, which have been criticized for driving up drug costs and pushing small pharmacies out of business. This move is seen as a significant intervention into the operations of PBMs, potentially reshaping the landscape of the healthcare industry by cutting off a major revenue source for these companies.