ARLINGTON, Va. – A bipartisan group of U.S. senators led by Senate Finance Committee Chairman Mike Crapo (R-ID) and Ranking Member Ron Wyden (D-OR) today introduced a bill to reform the harmful practices of pharmacy benefit managers (PBMs), the middlemen who wield outsized influence as intermediaries in the prescription drug supply chain. The National Association of Chain Drug Stores (NACDS) celebrates the move and urges quick action amid mounting pharmacy closures and rising drug costs nationwide.
The policies contained within the PBM Price Transparency and Accountability Act closely mirror language that House and Senate leaders negotiated at the end of 2024. It aims to bring transparency and fairness to the prescription drug system. The bill would open Medicare Prescription Drug Plan networks to any pharmacy willing to accepts fair terms, ban spread pricing where PBMs keep the gap between plan charges and pharmacy reimbursement for drugs, and enforce strict transparency rules. It also gives federal agencies tools to hold PBMs to account and to shield pharmacies from retaliation.
“PBM reform is not just a policy debate — it’s about access, affordability, and fairness for every American who depends on prescription medications,” said NACDS President and CEO Steven C. Anderson. “Every day that passes without action means more pharmacies close, more patients lose access, and drug prices continue to rise. The time for Congress to call the vote and pass this bill is now.”
The need for reform is urgent. Since 2018, more than 5,800 pharmacies have closed — nearly four every day, with 1,364 closures in 2024 alone. Over 800 ZIP codes now have no local pharmacy. Recent NACDS polling found that an overwhelming 97% of Americans feel it is important for steps to be taken to reduce the rate of pharmacy closures, underscoring the critical need for PBM reform and other government action to protect pharmacies’ financial viability.
The legislation creates a straightforward way for pharmacies to report when PBMs violate their contracts. It also requires transparent reporting on pharmacy access and payment trends. By limiting PBMs to true service fees, it cuts off their hidden revenue streams that cost patients and taxpayers billions of dollars. And with regular audits and real penalties for violations, it helps rebuild trust and ensure accountability.
“Congress has the opportunity — and the responsibility — to deliver this win for the American people,” Anderson continued. “These reforms are ready to go, have previously been agreed-upon by both parties, and the cost of further delay is simply unacceptable. NACDS urges every member of Congress to stand with patients and pharmacies by advancing this essential legislation expeditiously.”
The bill leverages strong bipartisan support. In addition to Senators Crapo and Wyden, the legislation is cosponsored by Senators John Barrasso (R-WY), Michael Bennet (D-CO), Marsha Blackburn (R-TN), Catherine Cortez Masto (D-NV), Bill Cassidy (R-LA), Maggie Hassan (D-NH), John Cornyn (R-TX), Ben Ray Luján (D-NM), Steve Daines (R-MT), Tina Smith (D-MN), Chuck Grassley (R-IA), Mark Warner (D-VA), James Lankford (R-OK), Raphael Warnock (D-GA), Roger Marshall (R-KS), Peter Welch (D-VT), John Thune (R-SD), Sheldon Whitehouse (D-RI) and Thom Tillis (R-NC).
As the Senate bill moves forward, NACDS and partners will keep working alongside our pharmacy champions in Congress to make these reforms law. Without action, more pharmacies will be forced to close, drug prices will keep rising, and patients will pay the price.
