New legislation signed by Governor Sarah Huckabee Sanders prohibits Pharmacy Benefit Managers (PBMs) from owning pharmacies in Arkansas.
This measure aims to address concerns regarding the influence and practices of PBMs, which have been accused of exploiting regulatory gaps to the detriment of consumers, inflating drug prices, and restricting access to essential medications.
Governor Sanders emphasized the importance of this law as a step toward accountability, positioning Arkansas as a pioneer in challenging the practices of large PBM corporations. This move aligns with broader efforts to address anti-competitive behaviors in the healthcare sector.
“For far too long, drug middlemen called PBMs have taken advantage of lax regulations to abuse customers, inflate drug prices, and cut off access to critical medications. Not anymore,” Sanders said in a press release. “These massive corporations are attacking our state because we will be the first in the country to hold them accountable for their anti-competitive actions, but Arkansas has never been afraid to be a conservative leader for America.”
In support of this initiative, Arkansas Attorney General Tim Griffin, along with a bipartisan coalition of 38 attorneys general from other states and territories, has urged congressional leaders to take action against anti-competitive practices by PBMs.
This collective appeal underscores the widespread concern regarding the need for greater oversight and regulation in the pharmaceutical benefits industry.
