Today, the Assembly unanimously passed patient-centered legislation aimed at lowering prescription drug costs and ensuring consumers’ interests are placed before the pharmaceutical industry.
Pharmacy Benefit Managers (PBMs) have a multifaceted role in our healthcare system. They create formularies, contract with pharmacies, and negotiate with manufacturers. Despite how important their role is, PBMs can sometimes make it more difficult for patients to get their medications at a reasonable rate. PBMs commonly state that drug manufacturers are solely responsible for ever-increasing costs, but that is not entirely true. PBM’s have a role to play, and this bill will hold them accountable and bring increased transparency.
Rep. Allen supported the bill based on the transparency measures in the legislation to protect consumers. “Greater transparency, as provided in this bill, is precisely what is needed if we are going to bring down the cost of prescription drugs,” said Rep. Allen.
The bill now goes to the Senate.