Governor Signs Asm. Jim Wood’s bill to regulate pharmacy benefit managers (PBMs)
SACRAMENTO—On Saturday, one day before the legislative deadline, Governor Edmund G. Brown Jr. signed AB 315, a bill by Assemblymember Jim Wood (D-Santa Rosa) to uncover the mystery of how pharmacy benefit managers (PBMs) affect escalating pharmaceutical drug prices.
“We worked on this legislation for two years to make sure we got it right,” said Wood. “Drug prices continue to be a major contributor to ever-escalating health care costs and consumers are paying the price – literally – in increasing health insurance premiums. This legislation will help us understand this marketplace so that we can fix it.”