(Sacramento, CA) — The Pharmaceutical Care Management Association (PCMA) released the following statement following the signing of SB 41 by Governor Gavin Newsom.

“It is a failure of the Newsom administration to fall for Big Pharma’s ploy to blame their high list prices on others and to undermine the very mechanisms that actually lower prescription drug costs. Nothing in SB 41 will lower drug costs for Californians. In fact, the legislation will increase drug costs for everyone in California.

“This is Big Pharma politics and Californian patients, consumers, employers, unions and plan sponsors will be the ones who pay the higher prices delivered by this misguided legislation.”

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PCMA is the national association representing America’s pharmacy benefit companies. Pharmacy benefit companies are working every day to secure savings, enable better health outcomes, and support access to quality prescription drug coverage for more than 289 million patients.