A coalition of 39 state attorneys general called on Congress to pass legislation prohibiting pharmacy benefit managers and parent companies from owning or operating pharmacies.
In an April 14 letter, the attorneys general said such ownership practices distort competition, drive up prices and limit consumer access to affordable prescriptions.
On April 16, Arkansas became the first state to enact a ban on PBMs owning pharmacies. It will take effect Jan. 1.
“For far too long, drug middlemen called PBMs have taken advantage of lax regulations to abuse customers, inflate drug prices, and cut off access to critical medications. Not anymore,” Ms. Sanders said in a news release .
PBMs control most of the prescription drug market, with the letter stating that three PBMs now process 80% of prescriptions nationwide and collect 70% of specialty drug revenue.
The coalition called on Congress to ban PBMs from owning pharmacies directly or through affiliated companies, saying the measure would promote transparency and expand access to pharmaceutical care.
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