CVS pharmacies has officially filed a federal lawsuit challenging Tennessee’s newly signed Fair Rx Act. The legal battle could affect more than 100 CVS locations statewide — including stores serving local communities here in the Sequatchie Valley.
Tennessee Governor Bill Lee signed the legislation into law last week. The measure is aimed at restricting companies from simultaneously owning pharmacy benefit managers, insurance companies, and retail pharmacies within the same corporate structure. Supporters of the law say it is designed to increase fairness and transparency in prescription drug pricing while helping independent pharmacies compete with large corporations.
CVS Health argues the law unfairly targets its business model and says complying with the legislation could force the company to close pharmacies across Tennessee by 2028. In its lawsuit, CVS claims the law is unconstitutional and warns it could reduce access to medications and healthcare services for Tennessee patients…