PBM Trade Group CEO Apologizes to Lawmakers at House Hearing

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Source: MedPage Today

Original: https://www.medpagetoday.com/pharmacy/pharmacy/119848...

Published: Wed, 11 Feb 2026 17:31:10 -0500

At a US House hearing on the pharmaceutical supply chain on Wednesday, the CEO of PBM Trade Group apologized to lawmakers for the problems in the sector[1]. Participants from various industries, including drug manufacturers, pharmaceutical benefit managers (PBMs), and healthcare distributors, blamed each other[1]. CEOs of companies such as UnitedHealth Group, CVS Health, Elevance Health, and Ascendiun have testified before Congress and the Ways and Means Committee[1][2]. Chairman Jason Smith asked attendees to raise their hands if their companies are owned by health insurance companies, care providers, PBMs, or are publicly traded with an obligation to maximize shareholder returns[2]. Paul Markovich, president and CEO of Ascendiun (the parent company of Blue Shield of California), called the health care system bankrupt and supported reforms, including anti-bribery[1]. Rep. Murphy accused companies of putting profits over patients and demanded a commitment to allow TrumpRx drugs to reduce patient co-payments[2]. The committee discussed transparency and accountability of PBMs in the drug market[3].