Bipartisan Amendment Would Use ‘Ebay-Style’ Competition to Lower Drug Costs
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Posted on 1/27/2020 by
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A bipartisan group of state senators wants to apply a New Jersey model for price competition to lower pharmaceutical costs for both taxpayers and consumers. Their “reverse auction” approach would, they argue, use market forces to save millions.

The Senate Senate Commerce Committee is considering SB 686, which would require pharmacy benefit managers (PBMs) to pass rebates paid by manufacturers on to the consumer or health benefit plan. PBMs are involved in hundreds of millions of dollars of state healthcare spending each year.

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