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Story perspectives

Congress Targets Drug Prices, Strikes PBMs with New Legislation

2/7/2026

30 6

Summary

Story summary

On February 7, 2026, Congress passed a spending package to reduce drug prices by restricting pharmacy benefit managers (PBMs).
The legislation marks a political setback for PBMs, which have previously avoided regulation.
U.S. President Donald Trump highlighted his commitment to lowering drug prices during the signing.
The three largest PBMs manage about 80% of U.S. prescriptions.
The bill does not address many cost-driving aspects of PBMs' business.

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Story summary

On February 7, 2026, Congress passed a spending package to reduce drug prices by restricting pharmacy benefit managers (PBMs).
The legislation marks a political setback for PBMs, which have previously avoided regulation.
U.S. President Donald Trump highlighted his commitment to lowering drug prices during the signing.
The three largest PBMs manage about 80% of U.S. prescriptions.
The bill does not address many cost-driving aspects of PBMs' business.