California AG calls urges US Congress to pass law on PBM ownership

( April 14, 2025, 17:58 GMT | Official Statement) -- MLex Summary: California Attorney General Rob Bonta joined a bipartisan coalition of 39 attorneys general in urging the the US Congress to enact a law that prohibits pharmacy benefit managers, their parent companies or affiliates from owning or operating pharmacies. “PBMs’ priority is not consumers, but rather their own bottom line. They must be reined in,” Bonta said. “Drug prices have skyrocketed in recent years, and PBMs have exacerbated the problem. To protect consumers and small businesses, we need more competition — not less — in the marketplace. A federal law prohibiting PBMs, and their parent companies or affiliates, from owning or operating pharmacies is long overdue, and I’m proud to be part of a bipartisan coalition of attorneys general that is calling on Congressional leadership to make it a reality.”Statement follows in full. Also see attached file. ...