The Pharmacy Benefit Manager market is undergoing its most significant shift in years. Long-building employer frustration is now converging with rising pharmacy costs, new fiduciary accountability, and landmark regulatory reform — creating real openings for a new generation of platforms.
In this white paper, we cover:
- ​The role, evolution, and structural challenges of PBMs
- The state of the industry and why the market is moving now
- What’s powering the up-and-comers (and what the incumbents still do better)
- What we look for as growth equity investors