Legislature to Look at Containing Drug Costs, Thursday, Oct. 13

Date: October 11, 2022

Committee hearing in Cheyenne will take public comment on the murky world of PBMs

FOR IMMEDIATE RELEASE
Contact: Tony Gagliardi, Wyoming State Director, 303-325-6243, Tony.Gagliardi@nfib.org
or Tony Malandra, Senior Media Manager, 415-640-5156, Anthony.Malandra@nfib.org

CHEYENNE, Wyo., Oct. 11, 2022—A committee of the Wyoming Legislature will take public comment on Thursday, October 13, on the little known but hugely impactful world of Pharmacy Benefit Managers (PBMs).

“Pharmacy Benefit Management is an industry badly in need of transparency,” said Tony Gagliardi, Wyoming state director for the National Federation of Independent Business (NFIB). “This lack of transparency has been attributed to higher insurance premiums, higher drug costs, and — extremely important for heavily rural states like Wyoming — availability of pharmacies and pharmaceutical services.”

An August survey of NFIB-member, Wyoming small-business owners found 67% in favor of having PBMs disclose their pricing methods to pharmacies and consumers. “The Legislature has dealt with this issue before but finds it necessary to revisit it frequently,” said Gagliardi.

Attention Editorial Page and Content Editors

Eric Saul, a Casper pharmacist, has penned this 734-word guest editorial explaining who PBMs are, how they came about, and how they deal with small, independent pharmacies. You are free to use it as content for your publications and websites.

Excerpt

“Welcome to the world of rebates, spreads, and kickbacks that are driving up drug costs and insurance premiums for patients.

“When people come to see me to fill their prescriptions, most don’t know a very powerful middleman exists between them and the drug companies—Pharmacy Benefit Managers (PBMs).

“Their methods of operation are particularly punishing in heavily rural states like ours, making it difficult to get the affordable medicines Wyomingites need at places convenient for them to pick up.”

Wyoming Legislature
Corporations, Elections & Political Subdivisions Committee
Pharmacy Benefit Managers Hearing
3:30 p.m.
Thursday, October 13
Capitol Extension W006
200 West 24th Street
Cheyenne
Livestream available at www.wyoleg.gov

Keep up with the latest Wyoming small-business news at www.nfib.com/WY.

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For almost 80 years, NFIB has been advocating on behalf of America’s small and independent business owners, both in Washington, D.C., and in all 50 state capitals. NFIB is a nonprofit, nonpartisan, and member-driven association. Since its founding in 1943, NFIB has been exclusively dedicated to small and independent businesses and remains so today. For more information, please visit nfib.com.

NFIB Wyoming
866-639-1846
NFIB.com/WY
Twitter: @NFIB_WY

 

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