Representative Gaydos Initiative To Ensure More Transparency In Prescription Drugs Pricing, Now Law

HARRISBURG – Rep. Valerie Gaydos (R-Allegheny) applauded the signing of Act 77 of 2024, a new law that aims to address critical issues in the pharmaceutical industry and protect independent pharmacies and their customers. Gaydos was a leader in advancing the bipartisan legislation, along with Rep. Jessica Benham (D-Allegheny). Said Gaydos, “This legislation is a crucial step toward ensuring transparency and accountability in how pharmacy benefit managers (PBMs) operate within Pennsylvania.” PBMs, which negotiate prices and discounts between drug manufacturers, insurers and pharmacies, have increasingly used practices that have harmed independent pharmacies and the communities they serve. Recent reports indicate Pennsylvania has lost 140 independently owned pharmacies since January, largely due to these practices. The law implements key reforms aimed at increasing transparency and protecting the interests of patients and independent pharmacies.