Bipartisan PBM Reforms Signed into Law, Advancing Transparency and Lowering Costs for Patients

WASHINGTON, D.C. (February 3, 2026) - Today, Congress passed bipartisan reform to rein in pharmacy benefit managers (PBMs), which President Trump signed into law-marking a meaningful step toward greater transparency and accountability for middlemen that have too often driven up costs for patients. Pharmaceutical Research and Manufacturers of America President and CEO Stephen J. Ubl released the following statement:

"We applaud the broad, bipartisan coalition of lawmakers who came together to pass meaningful PBM reform. These reforms are a win for patients, pharmacists, providers and employers who have urged Washington to hold PBMs accountable. For too long, PBMs have profited from medicines with little transparency or accountability. That starts to change today.

"By cracking down on PBM profit schemes and delivering transparency across the supply chain, these important reforms will generate savings for the health care system and lower costs for patients. As PBMs continue to evolve their business model, policymakers should explore additional reforms to address the harmful consequences of growing consolidation among PBMs and insurers who are increasingly denying care to patients."

About PhRMA

The Pharmaceutical Research and Manufacturers of America (PhRMA) represents the country's leading innovative biopharmaceutical research companies, which are focused on developing innovative medicines that transform lives and create a healthier world. Together, we are fighting for solutions to ensure patients can access and afford medicines that prevent, treat and cure disease. PhRMA member companies have invested more than $850 billion in the search for new treatments and cures over the last decade, supporting nearly five million jobs in the United States.

Connect with PhRMA

For information on how innovative medicines save lives, please visit:
www.PhRMA.org
www.Innovation.org
www.VotersforCures.org
www.MAT.org
www.LinkedIn.com/Company/PhRMA
www.X.com/PhRMA