Congressman Raja Krishnamoorthi Joins Bipartisan, Bicameral Press Conference Calling for Urgent PBM Reform Legislation to be Taken Up Before End of Year

 WASHINGTON – Congressman Raja Krishnamoorthi (D-IL) urged Congress today to prioritize Pharmacy Benefit Manager (PBM) reform legislation before the year's end, joining a bipartisan coalition of House and Senate members for a press conference in front of the U.S. Capitol. During his remarks, the congressman criticized the three largest PBMs for positioning themselves as middlemen between drug companies and patients, thereby creating a rebate system that favors large chain pharmacies, drives up prescription drug prices, and squeezes out small and independent pharmacies. In Illinois, this practice has increased medication costs and left 73 percent of counties in pharmacy deserts. Nationwide in 2024, over 2,000 local pharmacies have closed due to PBM pressures.

“Pharmacy Benefit Managers (PBMs) are driving up prices of prescription drugs for consumers and killing competition by forcing independent and local pharmacies to close,” Congressman Krishnamoorthi said. “The Federal Trade Commission (FTC), 39 state attorneys general, and members from both parties in Washington agree: the way PBMs operate is unsustainable and unacceptable. The bipartisan consensus is evident, the need for reform is evident, and the desire for Congress to act is evident. Now is the time for Congress to end the stranglehold PBMs have on our health care system by moving to protect pharmacy competition and lower prescription drug costs for everyone.”

Congressman Krishnamoorthi has been a leader in calling for PBM reform during his time in Congress, authoring several pieces of legislation that would increase transparency within the industry, better protect local and independent pharmacies, and lower the costs of prescription drugs for consumers, including introducing the bipartisan Pharmacy Audit and Compensation Transparency (PhACT) Act in October that would direct the secretary of Health and Human Services (HHS) to investigate how PBMs audit pharmacists. In December, Congressman Krishnamoorthi also joined with Reps. Buddy Carter (R-GA), Deborah Ross (D-NC), and Cliff Bentz (R-OR) in calling on the Department of Justice (DOJ) to investigate the role PBMs may have played in worsening the opioid crisis.

Congressman Krishnamoorthi’s press conference remarks can be found here.