A bill to prohibit pharmacy benefit managers and pharmacies from being under common ownership, and for other purposes.

Bill 118 s 5503, also known as the "Pharmacy Benefit Manager and Pharmacy Ownership Prohibition Act," aims to prevent pharmacy benefit managers (PBMs) and pharmacies from being owned by the same entity. The bill seeks to address concerns about potential conflicts of interest and anti-competitive practices that may arise when PBMs and pharmacies are under common ownership.

Under the proposed legislation, PBMs, which are companies that manage prescription drug benefits for health insurance plans, would be prohibited from owning or controlling pharmacies. Similarly, pharmacies would be prohibited from owning or controlling PBMs. This separation of ownership is intended to promote transparency, competition, and consumer choice in the pharmaceutical industry.

In addition to the ownership prohibition, the bill includes provisions for enforcement and penalties for violations. It also allows for certain exceptions, such as when a PBM or pharmacy is owned by a non-profit organization or government entity. Overall, Bill 118 s 5503 seeks to address concerns about potential conflicts of interest and anti-competitive practices in the pharmaceutical industry by prohibiting PBMs and pharmacies from being under common ownership. The bill aims to promote transparency, competition, and consumer choice in the prescription drug market.