New York would become the first state to force pharmacy benefit managers to publicly reveal how much they profit from rebates issued by drug manufacturers under a measure backed by Gov.
Lawmakers and pharmacists said Hochul’s proposal for the state budget due on April 1 would push boundaries for transparency requirements on PBMs, the companies that manage drug benefits for employers and negotiate those prices with drugmakers.
States have increasingly targeted PBMs over their role in setting prices in a prescription drug market exceeding $152 billion per year, spurred by pharmacists who argue that the heavily concentrated ...