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Assembly committee advances bill to curb pharmacy benefit manager practices
Summary
The Assembly Judiciary subcommittee advanced Senate Bill 41, which would increase transparency of pharmacy benefit managers, ban steering practices and spread pricing, and require rebate pass-throughs after testimony from neighborhood pharmacists and industry opponents raised legal and implementation concerns.
Senate Bill 41, a measure to increase transparency and restrict certain business practices by pharmacy benefit managers, was advanced out of the Assembly Judiciary subcommittee and referred to the Assembly Appropriations Committee.
The bill’s author, Senator Wiener, told the committee SB 41 “will require transparency and put a stop to abusive practices by pharmacy benefit managers or PBMs,” and said those practices have driven up prescription costs and contributed to closures of neighborhood pharmacies. He said the bill’s language had been negotiated with the administration and that he would accept committee amendments.
Why it matters: Supporters said PBM…
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