New Jersey

On June 19, the Assembly Committee on Financial Institutions and Insurance held another hearing on A4953. The Committee approved an amendment that would provide for a commercial rate floor, clarify the definition of network and non-network pharmacies and require fiduciary duties for PBMs. The bill remains in the committee.  

Also in New Jersey, on June 23, the Senate Committee on Commerce held a hearing on the "State of PBMs in New Jersey." NACDS submitted written testimony. Panels before the committee included those representing PBMs, pharmaceutical companies, health insurers and pharmacies. NACDS will continue to encourage the committee to take action to reform PBMs.  

For more information, please contact NACDS’ Ben Pearlman at 617-515-2603.