Montana’s Democratic Governor Vetoes Innovative Bill Targeting PBMs

Montana Gov. Steve Bullock, who on Tuesday (May 14) announced a run for the Democratic presidential nomination, vetoed a bill that would have taken a novel approach to regulating pharmacy benefit managers in the state. The bill passed with bipartisan support in the state legislature and was pushed by the state’s Republican insurance commissioner, who challenged U.S. Sen. Jon Tester (D) in 2018. Senate Bill 71 would have eliminated spread pricing in the individual market and required rebates from drug...