Grassley Says Price Transparency Bill Coming ‘Very Soon’ in Wake of Rebate Rule Withdrawal
The Trump administration recently pulled the plug on a rebate rule designed to lower drug costs – but Senate Finance Committee Chairman Chuck Grassley (R-Iowa) says a bipartisan package of reforms in the works will help shed light on pricing and rebates.
One part of the package is likely to be Grassley’s S. 1227, which the Senate Judiciary Committee advanced on June 27. The Prescription Pricing for the People Act would require the Federal Trade Commission to scrutinize the activities of pharmacy benefit managers (PBMs) and other intermediaries.
The Finance Committee is on track to report a package out to committee “very soon,” the senator said, adding that the bill “will bring much-needed transparency to drug pricing, including the role of middlemen and rebates.”