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Assembly committee advances SB 41 targeting pharmacy benefit manager practices seen as driving up drug costs
Summary
SB 41 would restrict certain PBM practices including steering to PBM-owned mail-order pharmacies, ban spread pricing and limit PBMs’ ability to pocket rebate-derived revenue; the Health Committee passed the bill to Judiciary after extensive testimony from independent pharmacists, patient groups, payers and PBM/insurer representatives.
SB 41, presented by Senator Wiener on July 8, aims to increase transparency and limit certain practices by pharmacy benefit managers (PBMs) that witnesses said have contributed to rising drug costs and closures of independent pharmacies. The Assembly Health Committee voted to pass the measure to the Judiciary Committee after amendments and extended testimony.
Independent pharmacists gave emotional testimony about financial strain. "PBMs often reimburse us under what we paid for the drug... This is truly unsustainable," said Sonia, owner of…
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