On Tuesday, I had the opportunity to testify in front of the Senate Judiciary Committee during a field hearing in Chicago on how to lower prescription drug costs for all Americans. During my testimony, I spoke about the role Pharmacy Benefit Managers (PBMs) have played in driving up the costs of prescription drugs and their squeezing of local and independent pharmacies.
These practices have also allowed PBMs to target independent pharmacies, undermining them by imposing measures like direct and indirect remuneration (DIR) fees that leave local stores struggling to get by. Practices like these have resulted in 73 percent of Illinois counties experiencing pharmacy deserts, forcing patients to travel longer distances for their medication. In 2024 alone, more than 2,000 local and independent pharmacies across the country have closed due to these pressures.
During my time in Congress, I have made reducing prescription drug prices and taking on PBMs a priority. That’s why I have introduced several bipartisan pieces of legislation that aim to rein in their power and put the needs of patients first. I am grateful to Chairman Dick Durbin for holding this field hearing to allow me to shed more light on the power of PBMs, and I am committed to working with my colleagues in the House and Senate to pass meaningful PBM reform that will help independent pharmacies and lower the cost of prescription drugs for Illinoisans and all Americans.
You can watch my full testimony here or by clicking the image above.