AG Coleman urges Congress to protect access to fair drug pricing

HENDERSON, ky. (WEHT) – Attorney General Russell Coleman announced he’s calling on Congress to pass a new law protecting Kentuckians from higher drug prices.

AG Coleman says he and a coalition of 38 other state and territory attorneys general signed a letter urging congressional leadership to prohibit pharmacy benefit managers (PBMs) from owning or operating pharmacies. PBMs are essentially the middlemen in the pharmaceutical industry. Although dozens of PBMs exist nationwide, a select few dominate the market and “wield outsized influence” in the availability, dispensing, and pricing of prescription drugs.

AG Coleman’s office explains that each of the top six PBMs operates their own affiliated pharmacies, while five of the top six are also a part of parent conglomerates that operate insurance companies and health care clinics. PBMs—through ownership of affiliated pharmacies—are contracting with and have power over their own pharmacies’ competition.  

“We’re calling on Congress to promote competition, transparency, and fundamental fairness in healthcare – something that’s been needed for too long,” said Attorney General Coleman. 

Officials say the letter sent Monday urges Congress to take action and protect consumers by enacting a law prohibiting PBMs or their parent companies from owning a pharmacy.

The letter can be read below.