On July 10, Gov. Phil Murphy (D) signed a package of bills targeting prescription drug costs. Most relevant was A536, an Act Concerning Pharmacy Benefit Managers (PBMs). This new law establishes greater oversight of PBMs. The act requires rebates to be used to lower premiums and out-of-pocket costs for consumers and prevents the practice of spread pricing. It also requires PBMs to apply for a license from the NJ Department of Banking & Insurance to strengthen regulatory oversight.
For more information, please contact NACDS’ Ben Pearlman at 617-515-2603.