The Federal Trade Commission recently announced that it will intensify scrutiny of pharmacy benefit managers (“PBMs”) business practices. The agency intends to issue compulsory orders to the six largest PBMs in the U.S. for information about... Read More
The New York State Department of Financial Services’ newly established Pharmacy Benefits Bureau (“Bureau”) has requested Public Comments regarding Pharmacy Benefit Managers (“PBMs”) in New York. The Bureau, as an Administrative Agency, has... Read More
Multiple states across the country have recently taken action and enacted new legislation to regulate Pharmacy Benefit Managers (“PBMs”). New York is no exception. Earlier in 2022, New York enacted comprehensive laws governing PBMs. More... Read More
On March 16, 2022, Governor Pete Ricketts approved an important bill for Nebraska’s independent pharmacies. Legislative Bill 767, also known as the Pharmacy Benefit Manager (PBM) Licensure and Regulation Act (“Act”), creates regulations that... Read More
Wyoming has introduced a new bill regulating pharmacy benefit managers (PBMs), specifically SF0036, also known as the Pharmacy Benefit Managers Act Enhancements “Act”, which if enacted, would amend Wyoming’s Insurance Code and increase... Read More
New Jersey legislators have recently introduced a series of bills to bring more scrutiny to Pharmacy Benefit Managers (“PBMs”). PBMs engage in bulk purchasing to keep drug costs under control, but it is questionable how much of those savings are... Read More
On February 25, 2022, House Bill 357 (HB 357) was passed by Florida’s House and will now be considered by Florida’s Senate, bringing it one step closer to being enacted into law. Independent pharmacies in Florida should also be aware of a... Read More
The Oklahoma Insurance Department (“OID”) recently agreed to a $4.8 million settlement with major pharmacy benefit manager (“PBM”), CVS Caremark, for violations of the state’s Patient’s Right to Pharmacy Choice Act (“the Act”). CVS... Read More
Michigan Governor Gretchen Whitmer signed House Bill 4348 (“Bill”) into law on February 23, 2022 to lower the costs of prescription drugs for Michiganders, ensure that pharmacists can provide honest advice to patients about treatment options and... Read More
One significant competitive challenge that Washington State independent pharmacies face arises from pharmacy benefit managers (PBMs) steering patients to use their affiliated pharmacies for mail-order prescription pharmacy services. However, a... Read More
