Florida Gov. Ron DeSantis has signed legislation designed to lower prescription drug prices by, among other things, curbing the power of industry middlemen, the pharmacy benefit managers (PBMs).
Those third-party administrators typically process and pay drug claims of health plans, and negotiate discounts with drug manufacturers and pharmacies.
In a signing ceremony on May 3, DeSantis said the Prescription Drug Reform Act prevents those companies from requiring consumers to use their mail-order services.
It also installs new regulations creating public price lists for drugs. It also bans pricing practices that boost the customer’s co-pay above the total cost of the drug….