A bipartisan group of six U.S. senators said in a letter Wednesday that the U.S. Patent and Trademark Office should take measures to combat "patent thickets" that pharmaceutical companies allegedly use to stifle competition and inflate drug prices.
The Federal Trade Commission announced today that it will launch an inquiry into the prescription drug middleman industry, requiring the six largest pharmacy benefit managers to provide information and records regarding their business practices.
While momentum to enact the Build Back Better Act (BBBA) has stalled in Congress, public support for legislation to lower prescription drug costs is likely to persist, particularly in light of concerns about rising prices due to inflation.
Imagine facing a life-threatening diagnosis only to be told by your insurance company that you can’t get the medicine you need when you need it.