(Washington, D.C.) — The Pharmaceutical Care Management Association (PCMA) today issued the following statement regarding legislation in Nevada, SB 539:

“The costly fiduciary mandate in this bill is similar to those that have been rejected by federal courts on constitutional grounds for conflicting with federal benefits law (Employee Retirement Income Security Act).

PBMs support transparency that offers consumers and plan sponsors like labor unions, employers, and health plans the information they need to make the choices that are right for them. However, this bill would grant the kind of transparency that the Federal Trade Commission and economists say will raise costs by giving drug companies inside information that would empower them to collude with their competitors.”