ALBANY – The leaders of two associations of pharmacists said the governor’s veto of legislation that would have made pharmacy benefit managers more accountable “will allow PBMs to continue to steal more money from taxpayers, resulting in the closure of pharmacies and jeopardizing patients’ access to life-saving medications and pharmacist services.”
In a joint statement, Steve Moore, president of the Pharmacists Society of the State of New York and Michael Duteau, president of the Community Pharmacy Association of New York State, said, “By vetoing a bill that would have provided vulnerable patients, taxpayers, and community pharmacies with desperately needed protections from abusive prescription drug middlemen known as pharmacy benefit managers (PBMs), Governor Cuomo has failed to resolve what has become a national healthcare crisis.”
The men said, “Special interests have been served, pharmacies and patients remain victims of PBM greed, and New York will literally pay as a result of this decision. Pharmacy stands united and our fight will not end until all PBMs are truly regulated and New Yorkers are protected from their harmful practices.”
State Assemblyman Colin Schmitt (R, New Windsor) said the bipartisan legislation was “meant to protect New York consumers and ensure access to vital health care services through our local pharmacies.”
As a result of the veto, “local pharmacies will continue to close and vital access to medication and medical services will be cut off for many,” Schmitt said.
Pharmacy benefit managers often own large pharmacy companies and regulate prescription prices.
