Senate hearing on insulin prices unites lawmakers against pharma companies.

Insulin manufacturers and pharmacy benefit management (PBM) companies testified in front of the Senate Committee on Health, Education, Labor and Pensions (HELP) to address questions over the affordability of insulin. The drug manufacturing leaders cited numerous causes of insulin’s sky-high price that exist outside their companies, while PBM representatives blamed high list prices and a lack of competition in the market. The HELP committee is scheduled to meet again on Thursday for a markup session on several bills, including the Pharmacy Benefit Manager Reform Act, which would impose restrictions on how PBMs conduct their businesses.