New York law lets pharmacists tell customers about ‘underwater’ drug prices

Pharmacists in New York state will soon have more leeway to tell their customers about contracts that leave them “underwater” on drug sales, when reimbursement rates from pharmacy benefit managers don’t cover their acquisition costs.

“PBMs want to keep patients in the dark about the true cost of their medicine,” Sen. Andrew Gounardes (D) said in a statement. “This policy empowers patients with the knowledge they need to demand fair rates and fair access.”