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Louisiana lawmakers push for transparency in drug pricing, bill advances
BATON ROUGE, La. (Louisiana First) — A bill aimed at regulating pharmacy benefit managers (PBMs) has passed and is awaiting the governor's signature.
HB 264, authored by Michael Echols (R-La.), is geared towards ensuring fair reimbursement and transparency in drug pricing.
The bill redefines the term rebate, which would include a wide range of discounts received by PBMs. These changes are meant to highlight how PBMs negotiate and profit from deals with drug manufacturers. It would also allow PBMs to label certain submitted information as confidential.
The Commissioner of Insurance would have the authority to review PBM records and compensation structures and ensure reasonable reimbursements.
Donald Trump Jr. took to social media, asking Louisiana to pass HB 358, which would allow a pharmacy technician to work remotely in certain circumstances.
'It's time to pass HB358 and end the charade that costs hard-working Americans so much money when buying prescription drugs. Enough is Enough!' Trump wrote.
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