WASHINGTON — After 15 years at the helm of the lobbying group for pharmacy benefit managers, Mark Merritt’s parting gift was a stone blue baseball cap. “PCMA,” the group’s acronym, was embroidered in red on the front, “Merritt 15-0” in white on the back.
“15 years here and we haven’t had any significant losses,” explained Merritt, the group’s current CEO.
Those on the outside question that record. PBMs, the companies that are hired to negotiate the prices of drugs, have had a tough run lately. Pharmacists and drug companies have framed them as grifters keeping drug prices high. President Trump has chided them for “dishonest double-dealing.” And a federal lawsuit accuses them of overcharging Medicare and pocketing the profits.
This article is exclusive to STAT+ subscribers
Unlock this article — plus daily intelligence on Capitol Hill and the life sciences industry — by subscribing to STAT+.
Already have an account? Log in
About the Author Reprints
To submit a correction request, please visit our Contact Us page.
