What This Story Is About
- Lawmakers are continuing to support the “FAIR Rx Act” amid a public opposition campaign from CVS Health.
Why It Matters
- CVS says a proposed law would force it to close more than 100 pharmacies, but lawmakers say it would just require them to adjust their business model.
- The Senate Finance, Ways and Means Committee is set to vote Tuesday on senators’ version of the bill.
For Context
- The House Finance, Ways and Means Committee, which oversees the financial implications of all new legislation, unanimously approved the bill on Monday.
NASHVILLE, Tenn. (WSMV) – Financial leaders at the Tennessee House of Representatives unanimously moved forward a bill Monday that has sparked a battle between state lawmakers and one of the nation’s pharmaceutical giants.
The feud is over the House Bill 1959, dubbed the “FAIR Rx Act” by Tennessee Republicans. The bill would prohibit pharmacy benefit managers from also operating pharmacies in the state — a structure that CVS Health currently uses across its business.
CVS Health has waged an aggressive opposition campaign — including urging customers in text messages to push back on the proposal — by saying that if passed, the FAIR Rx Act would force the company to close more than 130 stores across the Volunteer State…