One of the largest health care companies in the U.S., CVS Health, is pushing back against a bill passed by the Arkansas Legislature that targets pharmacy benefit managers (PBMs). PBMs are middlemen companies that negotiate drug prices on behalf of insurers and have been a point of contention for independent pharmacies in Arkansas due to low reimbursement rates. The bill, HB1150, aims to ban PBMs from holding a pharmacy license in the state, potentially impacting CVS Caremark, OptumRX, and Express Scripts – the three largest PBMs in the country.
CVS has launched a public relations campaign against the bill, urging Gov. Sarah Sanders to veto it. The company argues that the bill would negatively impact patient access to medicine and lead to the closure of CVS pharmacies in Arkansas. However, independent pharmacies argue that the bill simply forces pharmacies to choose between being a PBM or a pharmacy.
Despite CVS Health’s strong opposition, the bill passed both the House and Senate in Arkansas by wide margins. There is skepticism whether the law would actually force CVS Health to divest its pharmacies from its PBM. Aside from the legislative battle, CVS has already announced plans to close hundreds of stores nationwide in 2025, including some in Arkansas.
Overall, the debate over the bill in Arkansas highlights the complex issues surrounding PBMs, independent pharmacies, and the future of retail pharmacy giants like CVS Health. The outcome of this legislative fight could have far-reaching implications for both the industry and consumers in the state.
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