US Senator Bernie Sanders (I-VT) has decried prescription drug prices and insurer practices throughout his political career. Now, as chairman of the Senate health committee, he will guide hearings and investigations into major pharma companies, pharmacy benefit managers (PBMs), and insurers. Industry sources say that companies are bracing themselves for the public image impact of these hearings, although they may face little actionable repercussions.
According to Peter Sullivan, “The important upside for industry is that with a divided Congress, Sanders has basically no ability to get his most sweeping ideas signed into law at the moment. What he will have is the use of the bully pulpit and the public relations battle.”
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(Source: Axios, January 30th, 2022)
