PBM Act

This bill would make it illegal for any person or company to own or control both a pharmacy and either an insurance company or a pharmacy benefit manager, which is a company that manages prescription drug benefits for health plans. Companies that own both would have 1 year after the law takes effect to sell off their pharmacies. Companies that miss divestment milestones would have 10 percent of their profits placed in escrow each month, and a trustee could sell the pharmacy if the deadline passes. Federal agencies, state attorneys general, and individuals could sue to enforce the law, and the Federal Trade Commission and Justice Department would review the sales and could go to court to block related deals.

Full text and official record on Congress.gov

Sponsors

• Elizabeth Warren Democrat sponsor
• 3 cosponsors