Our investigation found that the PBM scheme encourages drug makers to spike the drug's list price in order to offer a greater rebate.

Today, three PBMs control 80 percent of the market.

PBMs are blocking a cheaper product.

I hope this committee will have the same success voting this bill out.

The Cantwell-Grassley PBM transparency bill directs the FTC to end well-known and documented PBM practices that drive up consumer price.

PBMs are blocking a cheaper product.

It is shocking that a commissioner would choose to resign rather than watch an agency's bipartisan tradition crumble in front of her eyes.

Any true attempt at understanding the factors driving costs must include a look at the broader supply chain.

I've hauled Big Pharma and PBM executives before the Finance Committee.

FMI thanks Chairwoman Cantwell and Sen. Grassley for championing the PBM Transparency Act.

Our bill has guardrails. It does not give FTC any new power or regulatory authority.

Today, three PBMs control 80 percent of the market.

I have long had concerns with the FTC's vague statutory authority, but at this moment, we cannot ignore the current state of affairs at the FTC.

I believe, like Senator Cruz just said, that the consumer ought to be the point of everything that we are trying to accomplish.

I worked at the FTC, and I can tell you that with the Agency's overreach and activism, which will no doubt be difficult to sustain in court, it is no surprise that FTC staff morale has dramatically dropped.

PBMs are blocking a cheaper product.

I've hauled Big Pharma and PBM executives before the Finance Committee.

It requires the FTC to study pharmaceutical intermediaries and issue a report and recommendations to Congress within one year.