(Washington, D.C.) — Pharmaceutical Care Management Association (PCMA) President and CEO JC Scott released the following statement on the eve of Governor Andrew Cuomo’s 2020 State of the State Address and the start of the state legislative session in Albany:

“Governor Cuomo’s focus on reducing prescription drug prices is an important public health priority. While we have concerns regarding some proposals to regulate pharmacy benefit managers (PBMs) by the Administration, we stand ready to work with the governor on solutions to reduce prescription drug costs for all New Yorkers.

Last year, the Administration offered several proposals to regulate and register PBMs as part of the state budget process. Unfortunately, rather than following the governor’s lead in 2019, the legislature instead sought overreaching legislation that would have significantly increased prescription drug costs in New York.

As New York’s 2020 legislative session gets underway, one of the most significant issues facing the state will be a projected $6 billion deficit – in large part stemming from costs associated with various health care programs, most significantly the Medicaid program.

In New York, PBMs are saving consumers and health care programs nearly $40 billion over a ten-year period. In fact, in Medicaid – the primary source of the state’s budget shortfall – PBMs are reducing drug costs by $4.4 billion. The core mission for PBMs is to be the primary advocate for consumers and health plans in the fight to reduce prescription drug costs.

The key to achieving lower prescription drug costs is through more competition in the marketplace and expanding the tools used by PBMs. With sufficient competition, PBMs are best equipped to negotiate lower drug prices from drug manufacturers. In addition, PBMs support increasing transparency across the entire prescription drug supply chain.

We understand prescription drugs are unaffordable for some New Yorkers. PBMs will continue to work on real solutions to increase access and affordability.”