July 29, 2019 - Issue: Vol. 165, No. 128 — Daily Edition116th Congress (2019 - 2020) - 1st Session

[Page S5121]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                        PRESCRIPTION DRUG COSTS

  Mr. GRASSLEY. Mr. President, there is a bad practice in 
pharmaceutical pricing called spread pricing. Spread pricing has 
historically siphoned money from the State Medicaid Programs and given 
it to pharmacy benefit managers or what we call PBMs. Drug payments and 
Medicaid should focus on the beneficiary, not the PBMs.
  The bipartisan prescription drug legislation I introduced this month 
with Senator Wyden bans spread pricing. This will refocus the system on 
paying for costs associated with prescribing a drug instead of gaming 
the system to reap a profit at the expense of the taxpayers.
  Medicaid funding should go to patients, not to the pockets of 
healthcare middlemen.
  I yield the floor.

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