Proposed legislation unveiled by Gov. DeSantis aims to increase drug pricing transparency, among other reforms.
Under the proposed plan, upon registering to do business in Florida, Pharmacy Benefit Managers (PBMs) would be required to disclose their current affiliations with pharmacies and any other companies under their corporate umbrellas.
Currently, PBMs are required to pay a $5 registration fee and provide limited information about their organizations when they register to do business in the state.
The plan also requires PBMs to disclose any complaints they’ve received or settlement agreements they’ve entered into while doing business in the state.
The proposal also instructs the Office of Insurance Regulation to act against PBMs that violate state law.
In addition, the proposed plan would require drug manufacturers to publicly disclose all proposed increases in drug prices and submit an annual report justifying any new increases made during the previous year.
“These reforms will enhance transparency and reduce the influence of pharmacy middlemen, which will help consumers as well as our small pharmacies,” said Governor Ron DeSantis. “I look forward to (them) becoming law.”
DeSantis laid out the drug pricing and transparency plan during a press event at The Villages on Jan. 12. The next regular legislative session begins in March.
