News Briefs: Supreme Court Declines PBM Fiduciary Responsibility Case
July 14
The U.S. Supreme Court declined on June 27 to hear a case that could have saddled PBMs with a fiduciary responsibility to a clients under ERISA. The case, a class action lawsuit titled John Doe v. Express Scripts, considered whether PBMs have a fiduciary duty to lower drug prices for clients, which is not the standard required by existing law or industry practice. However, some proposals currently under consideration by Congress would impose such a requirement, which could end practices such as spread pricing.
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