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PBM Accountability Project of Florida Statement on Historic PBM Reform Legislation Signed into Law

Tallahassee, Fla. – Florida Governor Ron DeSantis today signed into law the “Prescription Drug Reform Act” (SB 1550 by Senator Jason Brodeur/HB 1509 by Representative Linda Chaney) which will lower out-of-pocket costs for prescription drugs and create greater accountability and transparency for Pharmacy Benefit Managers (PBMs) in Florida. The legislation quickly advanced through both chambers with unanimous support. Former State Senator John Grant, President of Seniors Across America and member of the PBM Accountability Project of Florida, issued the following statement applauding the Governor’s efforts:

“Today, Governor DeSantis, a champion in the effort to rein in PBMs, took a stand against the predatory, multi-billion-dollar corporations who control more than 80% of the prescription drug market. Despite the threats and scare tactics from the PBM oligarchy that strong consumer protections for Florida’s seniors and families will result in higher costs, similar reforms implemented in other states have been successful in lowering out-of-pocket costs and increasing transparency. We thank Senator Brodeur, Representative Chaney, and their colleagues in the Legislature for fighting for our senior citizens and patients across the state who deserve the highest quality of care while paying no more than is absolutely necessary for the medicines they depend on.”

PBMs manage the prescription drug benefit for public and private health insurers and were meant to give patients and purchasers leverage when negotiating prescription medicine prices. However, these middlemen corporations continue to profit off our complicated drug pricing system.

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