GRANITE STATERS are struggling to pay for prescriptions while middlemen make huge profits and increase the cost of prescription drugs.
Eighteen years ago, I had the opportunity to work on a new Wall Street analyst team covering a new type of company, pharmacy benefit managers or PBMs. I knew investors stood to make a lot of money, because the PBMs themselves were in the position to take in a lot of cash for coordinating the flow of drugs. Ultimately, I declined. I couldn’t bring myself to switch from helping investors find exciting new medical devices that saved or improved lives to leading a lucrative, yet clearly misguided profit system that consistently put patients at a disadvantage.