Drug prices: Pharmacy benefit manager reform plan arrives on Pritzker's desk

SPRINGFIELD, Ill. (WAND) — The plan to lower drug prices by cracking down on pharmacy benefit managers arrived on Gov. JB Pritzker's desk Monday.

The governor has argued the state needs to limit how pharmacy middlemen negotiate prices for drugs, as PBMs continue to drive up the cost of healthcare.

This bill could stop PBMs from spread pricing, where they charge Medicaid more money than was paid for the drugs and receive a cut of the profit. It could also allow Illinois to have full access to PBM records so the state can follow the money and prevent future exploitation of patients.

"We can finally now peel back the curtain and find out what's been happening in the drug distribution chain and the role that PBMs play," said Rep. Natalie Manley (D-Joliet).

Sponsors said this will be a massive change for independent pharmacies struggling to stay open.

"Our local pharmacies are vital to communities across Illinois, especially in smaller towns and underserved areas," said Sen. Dave Koehler (D-Peoria). "Getting this bill approved means that pharmacy benefit managers who act as the middleman in the prescription drug industry will no longer have a strangle on consumers and neighborhood pharmacies."

The legislation passed out of the House on a 115-1 vote with one representative voting present. It previously passed out of the Senate on a 56-1 vote.