WV SB907

Requires the Office of Insurance Commissioner to conduct annual studies on pharmacy dispensing costs, with the first report due December 31, 2026, and annual presentations to legislative committees by January 15

Prohibits pharmacy benefit managers (PBMs) from reimbursing pharmacies below the national average drug acquisition cost plus a $10.49 professional dispensing fee, and bars PBMs from charging health plans more than they pay pharmacies

Bans West Virginia Medicaid and the Public Employees Insurance Agency (PEIA) from contracting with pharmacy benefit managers that own or have affiliate pharmacies licensed in West Virginia

Mandates that Medicaid and PEIA implement a pharmacy cost containment tool by July 1, 2026, which must engage prescribers with lowest-net-cost drug information and include guaranteed savings reports

Prohibits PBMs from imposing point-of-sale or retroactive fees, basing drug reimbursement on patient outcome metrics, or discriminating against 340B entities in reimbursement rates or administrative requirements