NW Kentucky News

House Committee on Oversight and Accountability Chairman James Comer (R-Ky.) has called on the CEOs of three major Pharmacy Benefit Managers (PBMs)—CVS Caremark, Express Scripts, and Optum Rx—to correct statements made during their recent testimony before the House Oversight Committee. The hearing, titled “The Role of Pharmacy Benefit Managers in Prescription Drug Markets Part III: Transparency and Accountability,” scrutinized the PBMs' practices.

During the hearing, the PBM executives made statements that contradicted findings by both the Committee and the Federal Trade Commission regarding their practices. These practices are alleged to jeopardize patient care, undermine local pharmacies, and raise prescription drug prices. Specifically, the executives from CVS Caremark, Express Scripts, and Optum Rx claimed they do not steer patients to PBM-owned pharmacies. They also disputed findings related to contract negotiations, opt-outs, and payments to pharmacies.

In letters addressed to these executives, Chairman Comer highlighted 18 U.S.C. § 1001 and 18 U.S.C. § 1621. He noted that making materially false statements or committing perjury could result in fines or imprisonment of up to five years. "Please provide any necessary corrections to the record prior to September 11, 2024," Comer wrote.

The letters were sent to:

- David Joyner, President of CVS Caremark

- Adam Kautzner, PharmD, President of Express Scripts

- Patrick Conway, M.D., Chief Executive Officer of Optum Rx

Further information is available through links provided for a wrap-up of the hearing and additional reports on PBMs’ pricing tactics and their impact on healthcare costs.