A New PBM Contract Does Not Guarantee Better Results, SHARx Explains Why

As employers reevaluate their pharmacy benefit arrangements, SHARx warns that comparing rebates, discounts, and guarantees may create the appearance of competition without changing the system driving high costs and access problems.

ST. LOUIS, Aug. 4, 2026 /PRNewswire/ — Employers are putting more pharmacy benefit manager (PBM) contracts back out to bid, but multiple proposals do not always represent meaningful improvement for the employer and its members. A 2025 National Alliance of Healthcare Purchaser Coalitions survey found that 61% of purchasers had changed PBMs in the previous year or were considering a change within one to three years. Use of PBMs identified as transparent rose from 12% to 31%, while reliance on the three largest PBMs fell from 72% to 61%.