Express Scripts CEO on PBMs and rising costs of drugs
Published
Apr 27 2021 at 11:47 AM GMT
Key
Points
Points
- Pharmacy benefit managers, or PBMs, negotiate drug prices directly with drug companies.
- They work on behalf of insurance and employer groups that pay for drugs.
- The companies act as middlemen and collect rebates and other fees.
- PBMs say they are the ones trying to lower drug prices.
- Tim Wentworth, CEO of Express Scripts -- the largest PBM -- joins "CBS This Morning" to discuss rising drug prices and what role they play in the debate.
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- Published Apr 27, 2021 11:47 AM GMT