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. During a House subcommittee hearing on the bill, Iowa Pharmacy Association executive director Kate Gainor said two dozen pharmacies closed in Iowa last year. The chair of a House committee said she’s eager to take action on the bill, which is largely patterned after a law in West Virginia. Hundreds of pharmacists and pharmacy students are at the Capitol Wednesday, lobbying for the bill.
