Manufacturers Welcome PBM Reform in Government Funding Package, Urge Swift Passage
Manufacturers Applaud PBM Reforms in Government Funding Package
Washington,D.C. – The National Association of Manufacturers (NAM) praised Congress for including pharmacy benefit manager (PBM) reforms in the year-end government funding package. NAM president and CEO Jay Timmons hailed the move as a crucial step in addressing rising healthcare costs, a top concern for manufacturers nationwide.
“Manufacturers commend House Speaker Mike Johnson,committee leadership,and reform champions for their work on a government funding package that tackles rising health care costs via critically important PBM reforms,” Timmons said in a statement. “The NAM has long championed congressional efforts to rein in PBMs, underregulated middlemen that increase health care costs for manufacturers and manufacturing workers.”
The reforms, according to Timmons, will increase clarity into PBM operations, ensuring they pass rebates on to patients and plan sponsors. Additionally, the reforms aim to delink PBM compensation from drug costs, a practise that has been criticized for driving up prices.
“These are vital steps toward lowering Americans’ health care costs—the top business challenge facing manufacturers, according to the most recent Manufacturers’ outlook Survey,” Timmons emphasized.
While the package does not include permitting reform, another key priority for the NAM, Timmons expressed confidence that President Donald Trump will continue to prioritize this issue.He also expressed optimism about working wiht incoming Senate Majority Leader John Thune and Speaker Johnson to advance comprehensive permitting reform.
“We look forward to working with incoming Senate Majority Leader john Thune,Speaker Johnson and their colleagues in congressional leadership to ensure manufacturers can build a more prosperous nation,” Timmons concluded.
PBM Reforms Cheers Manufacturers, but Permitting Frustration Lingers
In a significant win for industry, the National Association of Manufacturers (NAM) applauded Congress for including crucial pharmacy benefit manager (PBM) reforms within the recent year-end government funding package.
NAM President and CEO Jay Timmons lauded the move as a vital step in tackling the escalating healthcare costs that plague manufacturers nationwide. “Manufacturers commend House Speaker Mike Johnson, committee leadership, and reform champions for their work on a government funding package that tackles rising healthcare costs via critically vital PBM reforms,” Timmons stated.
The NAM has long advocated for congressional action against PBMs, which they contend are underregulated intermediaries that bloat healthcare expenses for both manufacturers and their employees.
The newly instituted reforms aim to enhance openness within PBM operations,mandating that they transmit rebates directly to patients and plan sponsors. Additionally,the reforms seek to disentangle PBM compensation from drug costs,a practice widely scrutinized for its contribution to price inflation.
“These are vital steps toward lowering Americans’ healthcare costs— the top business challenge facing manufacturers, according to the most recent Manufacturers’ Outlook Survey,” Timmons emphasized.
While the package doesn’t encompass permitting reform, another core priority for the NAM, Timmons expressed optimism that President Trump will prioritize this issue going forward.
He also conveyed enthusiasm about collaborating with incoming Senate Majority Leader John Thune and Speaker Johnson to advance thorough permitting reform.
“We look forward to working with incoming Senate Majority Leader john Thune, Speaker Johnson and their colleagues in congressional leadership to ensure manufacturers can build a more prosperous nation,” Timmons concluded.