MADISON, Wis. (AP) — Gov. Tony Evers on Friday signed into law a plan designed to lower prescription drug costs in Wisconsin.
The bill Evers signed sets new requirements for pharmacy benefit managers. They negotiate prices with drug manufacturers on behalf of insurers. The bill, which passed the Legislature with bipartisan support, requires pharmacy benefit managers to register with the state and submit annual reports with the state on rebates they receive from drug makers and whether those savings were passed on to customers.
It also prohibits pharmacy benefit managers from not letting pharmacists tell patients about cheaper alternatives to their prescriptions.
“The prescription drug supply chain can be a confusing and opaque system that often sends folks jumping through hoops just to access their life-saving medications,” Evers said in a statement. “That’s just wrong. Period.”
He said the new law takes important steps toward increasing transparency and protecting the state’s most vulnerable. Evers signed the bill at Bridge Community Clinic in Wausau.