The American Medical Association has released data showing that the pharmacy benefit manager (PBM) market is becoming more concentrated. In 2024, four companies—OptumRx, Express Scripts, CVS Caremark, and Prime Therapeutics—accounted for 75% of the national market, according to the AMA's findings.
The finding points to growing consolidation among PBMs, the intermediaries that manage prescription drug benefits for insurers and employers. The AMA's report underscores concerns about the market power of a small number of firms and the potential impact on drug pricing and patient access.
The data, reported by MedCity News, adds to ongoing scrutiny of PBMs from regulators and policymakers. With three-quarters of the market in the hands of four players, questions about competition and transparency are likely to persist.