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Tennessee lawmakers advance bill to bar PBMs from owning pharmacies amid fiscal concerns
Summary
Sen. Jack Johnson and colleagues described a bill banning pharmacy benefit managers from owning pharmacies, arguing it curbs anti-competitive vertical integration while fiscal analysts warned of multimillion-dollar state costs; backers expect the measure to pass despite dispute over budget impact.
Sen. Jack Johnson, the Tennessee Senate majority leader, described legislation that would prohibit pharmacy benefit managers (PBMs) from owning retail pharmacies, saying supporters view the change as a necessary step to curb anti-competitive practices.
"Vertical integration...is anti competitive," Sen. Jack Johnson said, explaining proponents' view that a PBM-owner could steer patients to specific pharmacies. He noted the bill passed the Senate health committee overwhelmingly and cleared the Senate finance…
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