An Iowa bill looks to reform pharmacy benefit managers in the state and add new regulations for how they are able to operate.

Pharmacists are praising a bill under consideration in the Iowa House and Senate that would set new restrictions on pharmacy benefit managers or PBMs. Critics accuse PBMs of pocketing part of the money that should instead be reimbursing the pharmacies that fill prescriptions.

The bill's supporters framed it as part of the solution to addressing both high drug prices and slowing the pace of pharmacy closures in Iowa.

Pharmacy benefit managers overcharged for specialty generic medications — in many cases by hundreds and thousands of percent — for billions in profits, according to a report from the Federal Trade Commission,

Indiana lawmakers are attempting to find solutions to decrease Indiana’s elevated healthcare costs by targeting pharmacy benefit managers (PBM) through a series of state bills. PBM’s act as middlemen when it comes to drug manufacturers and insurance companies.