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Lost all respect for Bernie on this. He’s just blatantly saying that he’s colluding with PBMs. And imagine the absurdity of what he’s saying at the trial. He’s
by gklitz 2y ago
Lost all respect for Bernie on this. He’s just blatantly saying that he’s colluding with PBMs. And imagine the absurdity of what he’s saying at the trial.
He’s saying he’s had pre talks with PBMs and they are going “we are actually willing to accept lower prices, we promise not to stop buying if you lower prices”
Why would you even be in this situation in a normal market? The willingness to accept lower prices on a product should be automatic and the threat of not buying should be driving prices down not up.
If the market was sane, the PBMs would be going: “Lower prices or we stop buying”
But the scam is, PBMs are eating up 70%+ of the “list price” Americans aren’t buying drugs from Pharma companies, they are buying them from their Insurance/PBM/Pharmacy collusion, who dictate both which products you are allowed to buy under insurance and what the “pretend” list price is, so they push it up to maximize their own profits and maximize your copay, which is calculated based on a hypothetical list price they have inflated 4x times while in reality only paying 25% of it themselves.