340BREFORM.ORG

Congress created the 340B Drug Pricing Program in 1992 to help low-income, uninsured and otherwise vulnerable patients gain better access to prescription medicines. Under this program, manufacturers provide discounted medicines to certain clinics and hospitals, otherwise known as "covered entities." However, there is no requirement that certain covered entities pass these discounts on to patients or reinvest their 340B profits in free or reduced-cost charity care... The 340B program has veered off course from its intended purpose. 340B hospitals, the pharmacies they contract with to dispense medicines and the pharmacy benefit managers (PBMs) and chain pharmacies that own these pharmacy locations are using this safety net program to earn massive profits... And due to historically weak oversight, the 340B program has seen unchecked growth in 340B covered entities and their abuse of the program. The number of 340B contract pharmacies, for instance, has grown by more than 2,400% since..