Democratic Senate candidate Abdul El-Sayed wants to make prescription drugs more expensive.

As part of his campaign, El-Sayed has called for the elimination of pharmacy benefit managers (PBMs), the firms that negotiate between pharmaceutical manufacturers, insurers, and pharmacies. Through his "Ban the Middlemen" policy, El-Sayed argues that removing PBMs from the healthcare system would lower costs for patients.

That’s not true. In fact, it’s likely that banning PBMs would allow drug manufacturers to drive prices higher and run roughshod over providers.

Besides threatening hundreds of thousands of jobs for PBM workers nationwide, El-Sayed's proposal reflects a fundamental misunderstanding of how pharmaceutical markets work. By restricting — or outright eliminating — the entities that negotiate drug prices, he risks weakening one of the few forces capable of pushing back against the pricing power of major pharmaceutical companies.

PBMs have become a favorite political punching bag in Washington. The Federal Trade Commission released a report in 2024 accusing large PBMs of engaging in anti-competitive practices and has pursued legal action related to insulin pricing. Members of........

© Townhall