Minnesota Senate Media Services
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Regulating Pharmacy Benefit Managers
Posted
May 16, 2019
Views
38
May 16, 2019
38
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23:44Now PlayingThe Senate gave its final approval Thursday, May 16, to the Senate and House agreement on licensing and regulating pharmacy benefit managers (BPMS). Pharmacy benefit managers serve as the conduit between the drug manufacturers and the pharmacies.
Sponsored in the Senate by Senator Scott Jensen, R-Chaska, PBMs will be required to be licensed with the Department of Commerce. The measure is designed to bring more transparency to drug pricing and prevent PBMs from using drug rebates for their own financial gain.
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