Gov. Asa Hutchinson signed into law the AR PBM Licensure Act, a measure supported by the board of directors of the Pine Bluff Regional Chamber of Commerce.
On Thursday, March 15, the governor signed the law requiring pharmacy benefit managers to be licensed by the state, according to a news release.
The Chamber’s resolution was forwarded Friday, March 9, to members of the congressional delegation in Washington, D.C.
“The Pine Bluff Regional Chamber of Commerce believes the community pharmacy market is currently broken,” according to the release. “Taxpayers, patients and small businesses in our community are suffering from the unregulated practices of pharmacy benefit mangers (PBMs) in Arkansas. We urge state and federal officials to support legislation that would place oversight on pharmacy benefit managers that would promote fair markets that stimulate competition and better access to high quality local pharmacy services that are vital to our local community and economy.”