Banning Common Ownership of Pharmacies and Drug Benefit Managers (PBMs)
This law aims to separate the ownership of pharmacies from insurance companies and Pharmacy Benefit Managers (PBMs) to boost market competition. Citizens may benefit from greater pharmacy choice and potentially lower drug costs, as corporations will no longer control both drug payment and distribution. Companies have three years to divest their pharmacies, and illegally obtained profits will be returned to harmed consumers.
Key points
Insurance companies and PBMs must sell off any pharmacies they own within three years of the law's enactment.
The goal is to eliminate conflicts of interest where PBMs steer patients to their affiliated pharmacies, potentially inflating drug costs.
Violating companies must return illegally gained profits, which will be used to benefit harmed consumers.
Expired
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