Legislation makes it illegal for pharmacy benefit managers (PBMs) to siphon money away from safety net providers and health care services intended for low-income Californians
LOS ANGELES–(BUSINESS WIRE)–AIDS Healthcare Foundation (AHF) thanked California Governor Gavin Newsom for signing SB 786, a bill which will make it illegal for pharmacy benefit managers (PBMs) to discriminate against 340B Drug Pricing Program participants. AHF also thanked Senator Anthony Portantino (D-Burbank), who authored and successfully carried the bill. The legislation, which will now protect thousands of organizations serving low-income Californians across the state, cleared the California State Senate with unanimous support in early September.
“PBMs should not be allowed to steal the savings intended for safety net providers for themselves. SB 786 effectively stops pharmacy benefit managers from being able to pickpocket safety net providers,” said Michael Weinstein, founder and president of AHF. “Reining in PBM abuse remains a nonpartisan issue which continues to pick up steam nationwide. We thank Senator Portantino for authoring and carrying this bill and Governor Newsom for signing it.”
AIDS Healthcare Foundation (AHF), the world’s largest HIV/AIDS healthcare organization, provides cutting-edge medicine and advocacy to more than 1.9 million individuals across 45 countries, including the U.S. and in Africa, Latin America/Caribbean, the Asia/Pacific Region, and Eastern Europe. To learn more about AHF, visit us online at AIDShealth.org, find us on Facebook, follow us on Instagram, Twitter, and TikTok, and subscribe to our AHFter Hours podcast.
Ged Kenslea, Senior Director, Communications, AHF