House Oversight Chair Urges PBM Executives to Amend Inaccurate Testimonies
House Oversight Chair Expresses Concerns
House Oversight Chair James Comer has formally requested that the CEOs of leading pharmacy benefit managers (PBMs) CVS Caremark, Express Scripts, and Optum Rx address inconsistencies in their recent testimonies that contradict findings by both the oversight committee and the Federal Trade Commission (FTC).
Testimonies Under Fire
- CVS Caremark President David Joyner stated his pharmacies were compensated less than others, an assertion that conflicts with the FTC's report indicating otherwise.
- The chair also questioned Express Scripts President Adam Kautzner's claims of non-bias toward independent pharmacies, accusing the company of steering patients towards their affiliated pharmacies.
- Lastly, concerns were raised regarding Optum Rx CEO Patrick Conway, who similarly claimed no preferential treatment towards affiliated pharmacies.
Consequences of Misleading Statements
In his communications, Comer stressed the potential legal repercussions for these PBM leaders should they be found guilty of perjury, which could result in hefty fines and significant prison time. This scrutiny follows an unflattering FTC report highlighting the overpowering influence of PBMs in setting drug prices and harming smaller pharmacies.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.