Tennessee House passes bill to restrict PBM-owned pharmacies

NASHVILLE, Tenn. (WCYB) — The Tennessee House passed a bill on Tuesday to restrict pharmacy benefit manager-owned pharmacies.

The Senate passed the bill on Monday.

CVS Health issued the following statement following the Senate’s passage on Monday:

“While disguised as anti-PBM, this misguided legislation will NOT lower drug costs and is solely designed to benefit independent pharmacies, with no thought about the patients who’d lose access to the pharmacist who they know and trust. This misguided policy will lead to serious consequences for the state, including the closure of 25 MinuteClinic locations, where Tennesseans get acute and primary care, and the loss of more than 2,000 jobs. We’re prepared to challenge the constitutionality of this law in federal court, as we did in Arkansas.”

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The bill now heads to Gov. Bill Lee’s desk.