NJ S4717

Pharmacy benefits managers (PBMs) are prohibited from acquiring or holding any direct or indirect interest in, or permit to operate, a pharmacy practice site in New Jersey, effective July 1, 2027

The State Board of Pharmacy must deny, revoke, or refuse to renew permits for pharmacy practice sites that violate this prohibition

Special permits may be issued for pharmacies handling rare, orphan, or limited distribution drugs otherwise unavailable to patients, but these special permits expire September 1, 2028

The Board must send written notice at least 90 days before July 1, 2027 to pharmacy practice sites it believes will violate the law, and those sites must then notify their patients and healthcare providers at least 60 days before the effective date

The legislation cites Federal Trade Commission and congressional findings of anticompetitive PBM business tactics that have driven local pharmacies out of business and inflated drug prices