Bill would ban PBM giants from owning pharmacies under same roof

What does this do?

This bill would make it illegal for the same company to own both a pharmacy benefit manager (PBM) and actual pharmacies. PBMs are the middlemen who decide which drugs insurance covers, negotiate prices, and set how much pharmacies get paid. Companies that currently do both would have one year to sell off either their pharmacies or their PBM operations.

Who does it affect?

This bill would most directly affect the large health care companies that currently own both PBMs and pharmacies, which together handled more than 90 percent of U.S. prescriptions in 2023. Everyday Americans, independent pharmacies, health insurance customers, and taxpayers who fund Medicare and Medicaid are named as groups the bill intends to protect.

Why does it matter?

Separating these businesses could change how drug prices are negotiated and how pharmacies compete with one another. Independent pharmacies, which have been closing in large numbers, could face a different competitive landscape if the bill becomes law.

What does it cost, and who pays?

• No direct gov spending
• 10% of profits held in escrow
• Violations allow triple damages + fees