A day after the Georgia House passed a trio of bills aimed at reducing costs to patients and pharmacists by regulating pharmacy benefit managers, the Senate approved a similar version of the legislation.
Senate Bill 313, sponsored by Bainbridge Republican state Sen. Dean Burke, attempts to shed light on prices that pharmacy benefits managers negotiate with pharmaceutical companies and pharmacies, and to ensure that patients are able to get the drugs when they need them.
The legislation passed the Senate unanimously.
“This is the first step in addressing the rising costs of pharmaceuticals in our state, but this is not the end,” said Burke, who is a physician. “And I pledge ... that we will look at pharmaceutical pricing and any other part of this process so that we an eliminate conflicts of interest, and what we feel like are business practices that are not in the best interest of our constituents.”
Pharmacy benefit managers act as middlemen between insurance companies, pharmaceutical companies and consumers to negotiate drug prices. They can also play a part in decisions including which drugs are covered, which are eligible for rebates and which pharmacies insurance holders can purchase from.
Burke's bill would make several changes, including forcing pharmacy benefits managers to share more information with state regulators so they can investigate complaints.
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