Pharmacy Benefit Managers (PBMs)

One player in the system of pharmaceutical pricing in the U.S. that has come under increasing scrutiny in recent years is the pharmacy benefit manager, or PBM. These so-called ‘middlemen’ are used by health insurance companies to manage their pharmacy benefits. PBMs have been the focus of attention from policymakers for several reasons. This brief […]

California Gov. Gavin Newsom signed into law legislation aimed at “reining in” pharmacy benefit managers, becoming the latest state to implement regulations on the industry. The bill would require all PBMs in the state to be licensed by its Department of Insurance and prohibits multiple business practices that have drawn the ire of PBM critics,