The Tennessee Senate has passed SB2040, a bipartisan supported bill that would restrict PBM-owned pharmacies, like CVS, from operating in the state.
Representatives with CVS call this a “pharmacy closure bill,” saying if its passed, they will be forced to close their 134 pharmacies in Tennessee. Sen. Bobby Harshbarger, the sponsor of the bill counters this claim, saying it would not restrict PBMs from operating in the state but it would force CVS and other PBM-affiliated pharmacies to disassociate with their parent company owned PBM.
PBMs are essentially middlemen between insurance companies, drug manufacturers, and pharmacies to manage prescription drug benefits for employers and insurers…