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Genetown

C2Sense® and Princeton BioMeditech Receive Second Award from NIH RADx® Tech High Performance Program for Digitally Connected, At-Home Diagnostic Reader and Multiplex COVID-19/Flu A&B Rapid Test

C2Sense, Inc., experts in advanced optical sensing platforms and Princeton BioMeditech Corporation, a world leader in rapid, point-of-care diagnostics, announced that they have secured a second National Institutes of Health Rapid Acceleration of Diagnostics Tech High Performance award.

April 9, 2024

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3 min read

PBMs

Deep Dive: PBM Reform

In the battle over drug prices, one sector of the healthcare industry has risen above all the players as the boogeyman: pharmacy benefit managers. In this special edition of BioPharm Executive, BioSpace takes a deep dive into the lens now focused on PBMs’ business practices.

September 18, 2024

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2 min read

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Annalee Armstrong

United States Capitol Building & dollar bills /

Pharmacy benefit managers

Can PBM Reform Lower Drug Prices?

Healthcare players are pointing fingers amid regulatory crackdowns on pharmacy benefit managers, but proposed reforms wouldn’t address a dearth of competition in the larger market.

September 11, 2024

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5 min read

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Keerthi Vedantam

External view of the U.S. Capitol building

Business

Novo CEO Reluctantly Agrees to Meet With PBMs on Ozempic, Wegovy Prices

In a Tuesday Senate hearing on Novo Nordisk’s drug pricing, CEO Lars Fruergaard Jørgensen said he would be willing to sit down with the three largest pharmacy benefit managers who committed that they would expand coverage of Ozempic and Wegovy if Novo lowers its list prices for the blockbuster drugs.

September 25, 2024

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3 min read

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Greg Slabodkin

Business

Express Scripts Sues FTC, Demands Withdrawal of ‘False and Misleading’ PBM Report

Pharmacy benefit manager Express Scripts announced Tuesday it has filed a lawsuit in federal court in Missouri against the Federal Trade Commission for its “unfair, biased and erroneous” July report on the industry.

September 17, 2024

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2 min read

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Kate Goodwin

Pharmacy benefit managers

House Oversight Chair Calls on PBM Execs to Correct Testimonies

The chair of the House Committee on Oversight and Accountability wants the CEOs of CVS Caremark, Express Scripts and Optum Rx to fix statements they made in a hearing last month that contradicted the committee’s and Federal Trade Commission’s findings.

August 29, 2024

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2 min read

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Tristan Manalac

U.S. Capitol surrounded by money and pill bottles/Taylor Tieden for BioSpace

Editorial

PBMs and Big Pharma Play Blame Game for Inflated Prescription Drug Prices

The Federal Trade Commission criticized the business practices of pharmacy benefit managers this week, but drugmakers are also at fault for the high costs of medicines.

July 12, 2024

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4 min read

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Greg Slabodkin

Pharmacy benefit managers

PBM Execs Point Fingers at Pharma Industry in House Hearing on Rising Drug Prices

Executives from the three largest pharmacy benefit manager companies testified Tuesday before Congress that rising drug prices in the U.S. are due to pharma companies taking advantage of market exclusivities and excessive charges.

July 24, 2024

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2 min read

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Tristan Manalac

Policy

PBMs ‘Wield Enormous Power’ Over Patient Access to Affordable Drugs: FTC

The Federal Trade Commission on Tuesday issued an interim report on the top pharmacy benefit managers, showing that they are generating massive profit at the expense of patients by inflating prescription drug costs.

July 9, 2024

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2 min read

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Tyler Patchen

Drug Pricing

FTC to Sue ‘Big Three’ PBMs for Setting Insulin, Other Drug Prices: WSJ

The Federal Trade Commission plans to file lawsuits against the three largest pharmacy benefit managers over allegedly steering patients away from less expensive drugs, according to The Wall Street Journal.

July 11, 2024

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2 min read

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Tristan Manalac