California Governor Thumbs Down PBM Reform Legislation

Updated Story In contrast to nearly unanimous consent in the state legislature, California Gov. Gavin Newsom (D) vetoed a bill that would require pharmacy benefit managers (PBM) to be licensed and regulated by the state insurance department and to disclose reports that include what the PBMs paid to drug manufacturers. The bill would also require discounts be passed down to consumers . The state’s Senate voted 37-1 while the Assembly voted 70-0 in favor of the bill...