NASP Applauds Senate Actions to Address Anticompetitive PBM Practices

Washington, DC, April 04, 2023 (GLOBE NEWSWIRE) — Last week the Senate took a number of actions to address anticompetitive PBM practices, including the introduction of the Drug Price Transparency in Medicaid Act of 2023 by Senators Welch (D-VT) and Marshall (R-KS)  which would eliminate the practice of spread pricing in state Medicaid program, and a hearing held by the full Senate Finance Committee to discuss PBM activities such as spread pricing and pharmacy DIR claw back fees. The National Association of Specialty Pharmacy (NASP) is pleased with the Senate’s commitment to reviewing and addressing anticompetitie PBM practices.

NASP President and CEO Sheila Arquette, RPh stated, “NASP is pleased that bipartisan champions in the Senate have joined House counterparts in leading legislative efforts focused on protecting pharmacy and patient needs. Anticompetitive business practices threaten specialty pharmacy business and their ability to care for their patients. The narrowing of any network, including the Medicaid network, through anticompetitive practices, limits patients’ access to specialty pharmacies of their choice forcing too many people to forgo the medications they need, resulting in life threatening consequences and increased Medicaid costs through preventable hospitalizations and medical complications. The full committee’s focus on these issues are necessary, and NASP has provided recommendations on the policy issues that the Committee needs to address this year.”

“NASP is also pleased to support the Drug Price Transparency in Medicaid Act of 2023 which will work to address practices by PBMs that are intended to narrow pharmacy networks and harming Medicaid enrollees. The National Association of Specialty Pharmacy (NASP) urges the Committee to act on this important bill this year and to also enact additional reforms to support pharmacy market competitiveness and protections for patients.”

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About NASP
The National Association of Specialty Pharmacy (NASP) is the only national association representing all stakeholders in the specialty pharmacy industry.  NASP members include the nation’s leading specialty pharmacies, pharmaceutical and biotechnology manufacturers, group purchasing organizations, patient advocacy groups, integrated delivery systems and health plans, technology and data management vendors, logistics providers, wholesalers/distributors and ​​​practicing pharmacists, nurses, and pharmacy technicians.  With more than 170 corporate members and 3,000 members, NASP is unifying the voices of specialty pharmacy in the United States.