Federal rule forces PBMs to disclose fees and rebates to employers

The Trump administration finalized a regulation that will require pharmacy benefit managers (PBMs) to reveal the various fees and compensation they receive from drugmakers, consultants and other parties.

Starting July 1, 2027, PBMs must provide detailed disclosures to the employers that contract them, covering drug rebates, spread pricing and any financial ties with brokers or consultants that could create conflicts of interest.

Industry groups warned they may pursue legal action, arguing the rule intrudes on proprietary information. Federal officials say the transparency will help employers better understand drug spending and could curb hidden costs in the prescription drug supply chain.