3 months ago
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LITTLE ROCK, Ark. – Arkansas Gov. Sarah Huckabee Sanders announced this week that pharmacy benefit managers (PBM) could face up to $1.47 million in possible fines for not complying with state law.
PBMs were created to negotiate terms for prescription drug costs for millions of Americans but recently they have been under fire by federal officials after a recent report from the Federal Trade Commission claimed these companies "may be profiting by inflating drug costs" while also "squeezing main street pharmacies."
State law currently states that no pharmacy benefit manager can pay a pharmacy below their cost to purchase a drug and below a fair and reasonable rate on top of that.
State Rep. Brandon Achor (R-Maumelle), who owns Achor Family Pharmacy, said because PBMs weren't paying that price, a lot of small, independently owned pharmacies stopped being able to fill veteran's prescriptions.
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