TX HB5457

Prohibits pharmacy benefit managers (PBMs) from directly or indirectly controlling, or being under common control with, any pharmacist or pharmacy operating in Texas

Requires the comptroller to submit a biennial report to the legislature by September 1 of each even-numbered year assessing the impact of PBM regulation and affiliation on independent pharmacies, rural pharmacies, prescription drug prices, patient access, and pharmacy market competition

Mandates the Texas State Board of Pharmacy to revoke or refuse to renew pharmacy or pharmacist licenses if the holder is affiliated with a PBM in violation of the new prohibition, effective January 1, 2027

Allows existing affiliations between PBMs and pharmacists or pharmacies to continue until January 1, 2027, by which date all such entities must divest their affiliated interests to comply with the law

Takes effect September 1, 2025, with the license revocation provisions and full prohibition enforcement beginning January 1, 2027