In April 2025, Arkansas passed legislation prohibiting pharmacy benefit managers (PBMs) from acquiring or holding a direct or indirect interest in pharmacies. This law makes Arkansas the first state to enact a structural approach to address concerns about PBM business practices. To date, three separate lawsuits have been filed challenging the law. This article looks at how PBMs work, previous attempts to regulate them, and the current lawsuits opposing the Arkansas law. While the laws...
