Health Care Plans and Pharmacy Benefit Managers Targeted in Class Action

Many medical benefit plan fiduciaries contract with pharmacy benefit managers (“PBMs”) to administer the prescription drug portion of their health plans, placing the PBM in charge of day-to-day management of the programs. Under the traditional PBM model, plan fiduciaries generally negotiate prescription drug prices with a PBM, which in turn negotiates pricing with drug manufacturers, profiting from the difference….
By: Mayer Brown