AZ SB1545

Prohibits pharmacy benefit managers (PBMs) from acquiring or holding, directly or indirectly, a retail pharmacy permit in Arizona, effective January 1, 2027.

Requires the Arizona State Board of Pharmacy to revoke or not renew permits held by entities violating this prohibition.

Allows the Board to issue limited service pharmacy permits for rare, orphaned, or limited distribution drugs that would otherwise be unavailable to patients if the supplying pharmacy is prohibited under this law.

Mandates the Board to notify affected pharmacy permit holders at least 90 days before January 1, 2027, and requires those pharmacies to notify patients and prescribers at least 60 days before that date.

Exempts pharmacies where the pharmacy employer is the sole client of an affiliated PBM and exclusively services the employer's own employees and dependents.