relative to regulation and transparency of pharmacy benefit manager practices.

Summary

The bill amends state law to tighten how pharmacy benefit managers (PBMs) operate, requiring them to act in the best interest of their health‑carrier clients and prohibiting any retention of spread pricing. It adds new definitions—such as “aggregate retained rebate ratio” and clarifies what constitutes a PBM—so regulators can monitor rebates and pricing more closely. The goal is to lower prescription drug costs and protect independent pharmacies by making PBM practices more visible.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

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