AR SB489

Adds definition of "similarly situated pharmacy" as one dispensing the same prescription drug within 10 days of a successful appealing pharmacy and receiving reimbursement within 5% of that pharmacy's rate.

Requires pharmacy benefits managers to provide Maximum Allowable Cost Lists as a list or data set that allows pharmacies to observe and discern all drugs on the list, similar to the national average drug acquisition cost list.

Mandates that Maximum Allowable Cost List changes be made effective for each similarly situated pharmacy as defined by the payor.

Establishes a private right of action for pharmacies and pharmacists to enforce violations under the Deceptive Trade Practices Act, Arkansas Pharmacy Benefits Manager Licensure Act, and Trade Practices Act.

Prohibits contracts or other agreements from extinguishing or abridging the private right of action granted to pharmacies and pharmacists.