Express Scripts CEO on PBMs and rising costs of drugs

Published Apr 27 2021 at 11:47 AM GMT
Key
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