As prescription drug prices continue to sky rocket, Senator Scott Jensen (R-Chaska) is committed to finding solutions to improve affordability for Minnesotans. This year, he developed new regulations for Pharmacy Benefit Managers (PBMs), the middlemen in the supply chain that get medicine to patients and drive up drug prices in the process. Adequate pharmacy networks will be required, transparency and accountability will improve, gag clauses will be eliminated, and pharmacists will be able to substitute bioequivalent medications for patients. These new guidelines will effectively lower prescription costs for Minnesotans.
Small pharmacies will also be protected from PBMs under Senator Jensen’s bill. PBMs will no longer be able to claw back dollars from local pharmacies and utilize rebates to drive them out of business.
Today, Governor Walz signed this bill into law, making it one of the largest new sections of law recently established in Minnesota.
“I tackled this issue because patients and pharmacies deserve better,” said Senator Jensen. “I am proud of what we accomplished this year, but we have a lot of work to do as we continue to deliver significant health care reform to Minnesotans.”