Pharmacy benefit managers typically negotiate rebates from pharmaceutical companies to help offset the high initial prices set for many drugs. But those discounts rarely flow directly to the people filling prescriptions. The rebate system has come under intense scrutiny as of late as lawmakers take aim at high drug prices and pharma companies point the blame elsewhere. Meanwhile, the Senate Finance Committee plans to call executives from five pharmacy benefit managers–the middlemen who operate within the rebate system–to testify in front of Congress next month.
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