Senator Rivera on the Veto of Bill to Regulate Pharmacy Benefits Managers
"The Governor's decision to veto S.6531, which would address transparency, affordability, and fairness in the prescription drug market by regulating Pharmacy Benefit Managers (PBMs), is discouraging and truly concerning. I was proud to be a prime co-sponsor of the bill after working very closely with Senator Breslin and Assembly Member Gottfried on crafting a bill that would safeguard New Yorkers and local pharmacies by helping to rein in PBMs that are recklessly inflating the costs of prescription drugs. I also worked with Senator Skoufis to write an investigative report on the PBM industry that concluded such legislation is absolutely necessary for our state. Among climbing healthcare costs, outrageously priced prescription drugs are a significant challenge to many New Yorkers and this bill would have asserted that prices and decisions by providers, pharmacists, and patients should be based on care needs before profit margins. This bill boasts broad support from fellow legislators, health care providers, local pharmacists, and New Yorkers who deserve affordable medications chosen based on health needs. I am astonished that the Governor would veto this much needed bill, but I remain committed to continue working alongside the bill's sponsors to enact strong and impactful laws that will truly regulate this industry in the coming legislative session."