Local pharmacy owners across New York state rallied to urge Governor Andrew Cuomo to sign the nation’s toughest protections from prescription drug middlemen known as pharmacy benefit managers (PBM’s). Here in Utica, state representatives, pharmacists, and pharmacy owners gathered at Parkway Drugs.
The New York City Pharmacists Society and the Pharmacists Society of the state of New York launched a campaign known as FixRx back in November of 2018 to improve the quality of healthcare provided by pharmacists, save tax payers money and restore equity to the distribution of prescription drugs.
The proposed bill would authorize the Department of Financial Services to license and regulate PBMS’s by requiring them to disclose details of spread pricing and information on discounts, rebates, and savings they receive from prescription drug manufacturers and to pass those onto consumers. The bill would prevent PBM’s from substituting medications without approval from doctors. It would also prohibit PBM’s from engaging in abusive behavior such as banning pharmacists from informing patients when lower cost options are available.