Oversight Chair Knocks PBM Execs for July Testimony Under Oath

ALEXANDRIA, Va. (Aug. 28, 2024) - The National Community Pharmacists Association released the following statement from CEO B. Douglas Hoey, pharmacist, MBA, after House Committee on Oversight and Accountability Chairman James Comer (R-Ky.) called on executives from Express Scripts, CVS Caremark, and OptumRx to correct the record for statements they made under oath during their appearance before the committee in July:

"PBM-insurers' days of reckoning are continuing. Congress and the FTC aren't falling for their nonsense, and the heat on them has never been higher. PBM-insurers exert so much influence on which drugs patients have access to and how much they cost that calling out their mistruths and working to hold them accountable is critical, and we applaud Chairman Comer for doing so. We also need to emphasize that Congress must absolutely pass PBM reforms this year. The time for waiting is over because PBM-insurers showed they will fudge the truth wherever they can and they'll only change their ways if they are forced."

In a statement released after the July hearing, Hoey called out the excuses and at times downright lies the PBM executives were attempting to feed members of the committee about the roles their organizations play in increasing prescription costs and decreasing patient access to health care.

Making sure to note that under the law, those who are untruthful in committee testimony under oath run the risk of a fine or five years of imprisonment, Comer's letters to the PBM executives specifically highlight their statements that contradict the committee's and the Federal Trade Commission's findings about the PBMs' self-benefitting practices that jeopardize patient care, undermine local pharmacies, and raise prescription drug prices; claims that they do not steer patients to PBM-owned pharmacies; and claims contradicting the committee's and FTC's findings regarding contract negotiations, contract opt-outs, and payments to pharmacies. The committee is asking the big three PBMs to provide their corrections to the record by Sept. 11, 2024.

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Founded in 1898, the National Community Pharmacists Association is the voice for the community pharmacist, representing over 19,400 pharmacies that employ more than 230,000 individuals nationwide. Community pharmacies are rooted in the communities where they are located and are among America's most accessible health care providers. To learn more, visit www.ncpa.org.