THE VILLAGES, Fla. — Gov. Ron DeSantis unveiled a proposal on Thursday to increase transparency in the pharmaceutical world and ultimately lower prescription drug costs for Floridians.
According to the governor, a key part of the plan is checking the power of "Big Pharma."
At a news conference in The Villages, DeSantis said he's already working with the legislature to do "the most comprehensive, transparency legislation in Florida history with respect to prescription drugs."
Here's what the governor's proposal entails:
The legislation would prohibit spread pricing, or the practice of pharmacy benefit managers (PBMs) charging customers more for a prescription than it costs, then keeping the difference.
PBMs, the governor explained, serve as middlemen between insurers and drug manufacturers.
It would also aim to protect small pharmacies from surprise bills and clawbacks from PBMs months after a prescription is filled.
PBMs would not be able to force customers into using specified mail-order pharmacies or PBM-affiliated pharmacies to get their prescriptions — instead, customers would be able to shop around different pharmacies for the best deal.
"This is a big victory for community-based pharmacies," DeSantis said. "You shouldn't have to rely on one big corporate chain every time."
The governor's proposal also aims to increase transparency among PBMs and drug manufacturers.
This includes more detailed registration requirements for PBMs to be able to work in the state. Under these requirements, they would have to disclose things like affiliated pharmacies or any past settlements and complaints.
Manufacturers would have to submit an annual report outlining and justifying any prescription drug price increases over the past year.
"These reforms will enhance transparency and reduce the influence of pharmacy middlemen, which will help consumers as well as our small pharmacies,” DeSantis said. “I look forward to these reforms becoming law.”
You can watch DeSantis' full news conference below.