Missouri – Missouri Attorney General Andrew Bailey has led a national campaign for legislative action to limit Pharmacy Benefit Managers’ (PBMs) practices in a significant response to rising prescription drug prices. Originally intended to reduce pharmaceutical costs, these companies are now being investigated for their part in raising prices at the cost of consumers.
Bailey, in line with a bipartisan coalition of 39 attorneys general, has written to Congress asking for the ban of PBMs and their related firms from running or controlling pharmacies. This audacious plan seeks to eliminate the conflicts of interest now rife in the pharmaceutical supply chain and restore equity in drug pricing and access.
This action is based on a disturbing study of the operating structure of the pharmaceutical sector, where PBMs significantly affect distribution, availability, and pricing of drugs. The coalition claims these managers often give shareholder profits top priority over patient care, a practice that has drawn severe criticism and demand for regulatory reform.
“Pharmacy Benefit Managers were created to reduce drug costs, but they’ve instead abused their position to enrich themselves at the expense of patients,” said Attorney General Andrew Bailey. “This is legalized profiteering—PBMs are manipulating the system, crushing independent pharmacies, and denying Americans access to affordable, life-saving medications. Congress must confront this corruption head-on and put the needs of patients over corporate greed.”
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Roughly 80% of the U.S. prescription drug industry is controlled by a handful of major companies, so the coalition’s letter to Congress offers a sharp image of a market they dominate. This concentration of power has resulted in anti-competitive actions that hurt smaller, independent pharmacies and raise prices for customers.
“Right now, three massive corporations control 80% of the prescription drug market—and they’re using that grip to crush competition, drive up prices, and funnel patients into their pharmacies,” said Attorney General Andrew Bailey. “This isn’t just bad business—it’s deadly. Missourians are being denied access to life-saving medications, and I won’t stand by while corrupt middlemen put profits over lives. That’s why we’re taking action.”
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Attorneys general from Alaska to Wyoming, including areas as diverse as American Samoa and the U.S. Virgin Islands, have signed the letter, showing support for this effort across a wide range of states and territories. This strong support emphasizes the widespread concern about PBM practices and their effects on the financial stability and health of Americans.
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Aiming to encourage a major change in pharmaceutical policy, the coordinated effort of these legal leaders supports a system that prioritizes patient health above business profits. All eyes will be on Congress throughout the discussion to determine its reaction to this demand for a basic shift in the way prescription pharmaceuticals are priced and dispensed in the United States.
