Attorney General Miyares joined a bipartisan coalition of attorneys general in urging Congress to reform the practices of pharmacy benefit managers (PBMs) to prioritize patients over profit-driven corporations. Miyares emphasized the need for legislative action against PBMs' unjustifiable increases in drug prices and for establishing structured systems to increase transparency in their practices.
"In the absence of meaningful federal regulations, Virginia enacted laws to protect consumers from exploitative PBM practices – legislation I supported while serving in the General Assembly. It’s time for Congress to step up and take legislative action against PBMs’ unjustifiable increases in drug prices and establish structured systems to increase the transparency of their practices," said Attorney General Miyares.
The coalition highlighted three crucial pieces of legislation that offer necessary reforms, including the obligation for PBMs to provide pricing data to health plans and regulators in a standardized format. These measures aim to empower health plans to negotiate better agreements with PBMs and enable regulators to hold PBMs more accountable for their actions.
Attorney General Miyares was supported by attorneys general from various states in this initiative, including Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, and many others. The coalition's efforts seek to bring about significant changes in how PBMs operate to benefit consumers and ensure fair pricing in the pharmaceutical industry.
For media inquiries, contact Attorney General Miyares' office at (804) 588-2021 or via email at This email address is being protected from spambots. You need JavaScript enabled to view it..