CVS vows federal court challenge after TN General Assembly passes bill that could close 100+ stores [View all]
The Senate and House both passed a bill that could shut down over 100 CVS stores and impact where patients get their prescriptions.
The bill passed the Senate on Monday with 24 Ayes and nine Noes, and in the House on Tuesday with 86 Ayes and seven Noes.
Senate Bill 2040 focuses on pharmacy benefit managers — also known as PBMs — who are the middlemen between the pharmacy, the drug manufacturer and the insurance company. The proposed bill says companies can’t be both the pharmacy benefit manager and the pharmacy, as it has created conflicts of interest that can restrict patient choice, increase costs and jeopardize continuity of care.
Once passed, CVS said the only way they can comply with the law is to cease pharmacy operations, which would include the 134 CVS Pharmacy locations and two CVS Specialty locations, which would impact more than 2,000 CVS colleagues who live and work in Tennessee.
https://www.wbir.com/article/news/politics/tn-senate-passes-bill-that-could-close-100-cvs-stores/51-dc18aa6f-05a7-4d09-b540-49ff0d8925e4
On the face of it, it sounds like a good idea. Someone please explain to me what's wrong with it other than CVS having a tantrum.
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