California lawmakers are making a last-minute push before adjourning to restrain pharmacy benefit managers against the background of a national effort to rein in prescription drug prices.
Proponents of the bill, led by pharmacists, argue SB 966 would help place needed safeguards on the middlemen who negotiate with drug manufacturers and manage prescription benefits for employers. They say those third parties have undermined competition and are financially squeezing smaller pharmacies.
The effort is part of movement outside of federal action as state lawmakers in 41 states have filed more than 170 related bills this year that would regulate the industry. ...